HSBC's provision for payment protection insurance (PPI) payouts has risen to £745 million.During the first quarter of 2012, the bank revealed it had set aside £290 million to deal with PPI claims.Over the same period in 2011, it had earmarked £272 million for this purpose.However, chief executive of the HSBC Group Stuart Gulliver claimed the enterprise enjoyed a "good start to the year".The business has increased its revenues against the previous quarter in the Asia Pacific region, Latin America and Hong Kong, he asserted.Describing the firm's performance in April as "satisfactory", Mr Gulliver argued: "We remain confident that we will deliver on executing our strategy".HSBC's PPI provision reflects similar moves recently made by the Royal Bank of Scotland, Lloyds Banking Group and Barclays, all of which have had to set aside more money to deal with PPI refunds following a rise in claims since the beginning of 2012.John Fieldman Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.
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