Banks could still face claims for compensation for motor finance commissions, but the extent of the total bill facing lenders is likely to now be significantly reduced.

Britain's highest court Friday largely overturned a lower court's ruling that certain car finance agreements were unlawful, a decision likely to bring a sigh of relief among lenders and limit the scale of compensation payments.

The UK's Supreme Court will announce a long-awaited ruling on car finance commissions on Friday that could influence whether major banks face a multibillion-pound compensation bill. British lender Close Brothers and South Africa's FirstRand want to overturn a landmark Court of Appeal judgment,