The Financial Ombudsman Service received more complaints about Lloyds Banking Group in the first half of 2010 than the total number of complaints for Santander, Royal Bank of Scotland and Barclays put together.
Data published today by the Ombudsman shows that between January 1 and June 30, 2010 the FOS dealt with 22,420 complaints relating to Lloyds Banking Group.
Of those, 12,750 cases related to Lloyds TSB Bank, with 8,474 cases concerning general insurance policies sold by the bank.
A further 2,136 cases related to Black Horse, Lloyds’ personal finance division, which offers personal loans and car finance.
The bank that received the next highest number of new complaints was Barclays, with 9,215 cases submitted to the FOS during the first half of the year.
Barclays’ cases were mainly driven by the 4,797 banking and credit complaints the FOS received. The Ombudsman upheld 61 per cent of all complaints, 51 per cent of mortgage complaints and 60 per cent of investment complaints.
Royal Bank of Scotland complaints totalled 6,469, Santander’s came to 5,885, and HSBC received 4,031.
The FOS figures only cover financial businesses where the Ombudsman received at least 30 new cases and resolved the same amount between January and June.
Sesame had 108 new cases referred to the FOS, the majority of which were to do with life and pensions advice. The Ombudsman found 51 per cent of all complaints in favour of the consumer, 70 per cent of investment complaints in favour of the consumer and upheld 49 per cent of all life and pensions
and decumulation complaints.
Meanwhile, Openwork had 49 complaints across the GI, investments and life and pensions sectors. FOS upheld just 21 per cent of Openwork’s total complaints.
Complaints against St James’s Place Wealth Management totalled 38, with 19 relating to investment advice. The FOS found 49 per cent of all complaints in favour of consumers and upheld 52 per cent of investment complaints.
Wills & Co stockbrokers received 387 investment complaints and the Ombudsman upheld 99 per cent of them. The firm was declared in default by the Financial Services Compensation Scheme in July, after the FSA stopped Wills & Co from giving investment advice in February. The compensation costs are likely to fall on the intermediary sub-class.
FOS chief executive and chief ombudsman Natalie Ceeney says: “The latest set of complaints data shows that some businesses are really committed to ensuring that complaints are handled well and are used to inform and improve the service they offer their customers.
“However, the complaints data also shows there is still more that some businesses need to do to ensure that complaints are properly investigated and fairly resolved. The ombudsman is keen to continue to play its part and help businesses draw lessons from the complaints that we see, so disputes can be sorted out at the earliest opportunity.”