PPI Claims Set to Continue

Having made your decision that you would like to place some Binary Options trades on banking stocks, then there are of course going to be a lot of factors that you will have to take into account in regards to selecting which banks to place your trades around and what way you think the shares will move over any given time period.

In fact, as it was thought that the majority of banks were now reaching the end of the period of time when they were being hit with fines and compensation claims for mis-selling payment protection insurance (PPI) and wrongdoing in the past, you may have been thinking of placing trades on any number of banks in the hope their shares increase in value.

However, all would appear not to be over, for yesterday both the Royal Back of Scotland and quite surprisingly Santander announced that they would now be setting aside even more cash to pay out in compensation to their customers who had been mis-sold PPI.

The Royal Bank of Scotland has already set aside over £3billion to payout as compensation, however yesterday the announced that a further £500million has also now been set aside to settle claims still coming in from their customers.

Santander has also just announced that they have allocated an additional £450million to settle claims expected to come in soon which means in total they have set aside £1.52billion.

Those payouts are expected to have an effect obviously on the trading profits for both of those banks, and as such please do keep that in mind if you are thinking of placing your Binary Options trades on either of them in the very near future.

Whether or not those current amounts of cash they have both set aside will finally draw and end to the PPI claims coming in however is yet to be determined, and it could be the case there are more claims that will need settling in the very near future too.

Banking stocks and shares have been a very risky market place for many traders to get involved in over the last few years, but being able to place trades on both the price of any banks share price rising and also on their shares decreasing in value, you can still make money when playing Binary
Options no matter whether the share values increase or fall, so that is something to keep in mind also.