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20/02/2012
Lloyds Claws Back £2m Of Executives' Bonuses
Lloyds Banking Group is set to take back bonuses worth £2m from 10 executives.
These include the former chief executive Eric Daniels and four board directors.
Mr Daniels may lose between 40% and 50% of a £1.45m bonus/between £600,000 and £700,000, board directors are expected have about £250,000 taken from them and below board level executives around £100,000 each.
The move is a results of the executives role in mis-selling of payment protection insurance (PPI).
Lloyds Banking Group, who owns the Halifax, the Bank of Scotland and the Cheltenham and Gloucester, is the UK's biggest lender and is the first British bank to take back bonuses following a worse-than-expected financial performance.
On Friday the bank will publish their results. A loss of about £3.5bn is expected.
(GK)
These include the former chief executive Eric Daniels and four board directors.
Mr Daniels may lose between 40% and 50% of a £1.45m bonus/between £600,000 and £700,000, board directors are expected have about £250,000 taken from them and below board level executives around £100,000 each.
The move is a results of the executives role in mis-selling of payment protection insurance (PPI).
Lloyds Banking Group, who owns the Halifax, the Bank of Scotland and the Cheltenham and Gloucester, is the UK's biggest lender and is the first British bank to take back bonuses following a worse-than-expected financial performance.
On Friday the bank will publish their results. A loss of about £3.5bn is expected.
(GK)
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