Research by Your Money Claim, has found that the compensation paid to consumers from being mis-sold PPI has exceeded the national GDP of 93 countries from around the world.
Using data from the Financial Conduct Authority and comparing it to the IMF’s GDP figures, PPI payouts would be placed in 97th place.
At a total of £25bn, this means the compensation outranks the GDP of:
• El Salvador
Further details, including charts and maps, can be found here.
With the deadline for PPI claims possibly being extended to 2019, the amount of compensation is set to grow. Your Money Claim will be monitoring all new data releases from the FCA and updating our map and charts.