LLOYDS Banking Group, owner of Bank of Scotland, has blamed the body that manages the UK Government's bank investments for a decision to link a £1.5 million bonus for chief executive Antonio Horta-Osorio to a "contrived" 61p a share valuation for the taxpayer's 40% stake.
LLOYDS Banking Group, owner of Bank of Scotland, has blamed the body that manages the UK Government's bank investments for a decision to link a £1.5 million bonus for chief executive Antonio Horta-Osorio to a \"contrived\" 61p a share valuation for the taxpayer's 40% stake.
MATTER IN HAND: Antonio Horta-Osorio said progress last year put Lloyds ahead of schedule. Picture: Jeff J Mitchell
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Tim Sharp City Editor
Lloyds revealed it made a £570m pre-tax loss in 2012, an improvement on the £3.5 billion deficit of the previous year.
Its 97,000 employees will share a £365m bonus pool, down 3% on 2011, giving each £3900 on average. Cash bonuses are capped at £2000.
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