The average monthly payout since the beginning of 2012 has been £377m, so the last reported figure was only slightly below this average. The average monthly payment in 2019 has been £332m, and the trend has been rising since the February low. This is unsurprising considering the increased media exposure and increased claim management Company activity.
Although the deadline is the end of this month we still have to see the June to August payment levels, and then there should be a slow decline as existing claims are settled/discarded and appeals are decided. LLOY continue to add to their provisions but there should now only be one or two reports where this could be done. I hope that their last provision was on the pessimistic side and that these will not actually be needed, but I somehow doubt it.
The levels of extra provisions are still quite low so do not have a marked effect on the funds available for dividends and buybacks. So PPI sentiment affecting the sp should be minor. However, I suspect that we may see rises in other provisions, especially if some of the so-called political “elite” continue to work as Quislings and fifth-columnists to ensure we have the worst possible Brexit outcome.