The company employs more than 7,000 workers globally, with around 2,000 of these based at its North Sea hub in Scotland, according to reports.

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The London-headquartered lender will put by the provision in third quarter results due to be published on Tuesday.

David Lammy will set out a series of measures aimed at strengthening the system as he faces questions about the blunder from MPs.

It came as the Competition and Markets Authority (CMA) concluded an initial phase one investigation into the £1.2 billion deal.