Tesco PPI Bill
You may have noticed that our, once all-powerful, supermarket giant, Tesco have recently been in the news for all the wrong reasons regarding their mis-calculation of profits.
As if things couldn’t get worse for the struggling grocer, they have released new figures stating that their banking arm is to increase the Tesco PPI bill by £27 MILLION.
Now, who out there were surprised that Tesco, of all companies, had mis-sold PPI to it’s customers?!
It would appear that all of the high street supermarkets, from Sainsbury’s to Asda, have also been mis-selling PPI in order to generate even more profit for their shareholders to enjoy.
‘Every little helps’
Over recent years Tesco has been involved in their fair share of scandals.
From horsing around with their meat products, to recently having to sell it’s £35 million luxury private jet. What exactly does a supermarket do with a private jet? Home deliveries perhaps?
This latest indication of Tesco’s involvement in the biggest financial scandal will do no favours for it’s plummeting reputation. The lure of the huge profits on offer for selling PPI was obviously too tempting for the greedy Tesco bosses.
Mis-selling PPI meant that Tesco would get a few more million in their pockets every year… as they say ‘every little helps’, helps themselves!
Pennies make pounds
Tesco have a reputation for being ‘bigger and better’, or should I say they once had that reputation?
Reputations are easily damaged and over these past few months Tesco released a profit figure from January 2014 – June 2014, which was overstated by £263 million!
With recent profits being realised, it has come to the attention that Tesco bank has experienced a 23.6% fall in pre-tax profits down to less than £100 million, after they took a £27 million hit for refunding PPI compensation. However, underlying profits before tax are up 18.4% and income has increased by 10.7%, due to strong leading growth, according to Tesco’s latest results.
Have your share of Tesco’s PPI Bill
- Have you been mis-sold PPI?
- Unsure whether you’re entitled to compensation?
- Don’t need the hassle?
The experts are on hand to help.
Download our free claims pack today… or request one to be posted to you!
We don’t need account numbers or paperwork. As on a daily basis we deal with the banks, so you don’t have to.
What are you waiting for?!