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Car finance scandal: Lloyds sets aside £1.2bn for potential payouts

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Lloyds Banking Group has nearly tripled the amount it is setting aside to cover the car finance mis-selling scandal to 1.2bn .

The bank reported a pre-tax profit of 5.97bn , down from 7.5bn a year earlier .

The Supreme Court will rule on the question of whether people taking out car loans were properly informed over how commission was paid.