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€1.3m paid out over complaints

SUCCESSFUL complaints against financial service companies have jumped by 5pc in the first six months of the year.

Compensation of over €1.3m was awarded to people making complaints, the Financial Services Ombudsman (FSO) has reported.

In his bi-annual review, Ombudsman Bill Prasifka (above) reported that 3,780 complaints were received in the first six months of the year.

The amount of complaints upheld jumped up to 29pc from 24pc for the same period in 2010. The number of findings by the FSO increased by 38pc. Mr Prasifka said that the record of financial institutions "disappointing".