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Lloyds Bank losses decrease to £570m

Friday, March 01 08:01:59

Part-nationalised Lloyds Banking Group said it narrowed its losses to £570m sterling in 2012 from £3.5 billion the previous year. Lloyds chief executive Antonio Horta-Osorio will be paid a deferred shares bonus of £1.5m for 2012, while staff will share a total pot of £365m.

Lloyds said it was setting aside £1.2 billion to cover loan losses in Ireland last year according to RTE News. That is substantially less than the £3.2 billion loan impairment charge it had reported in 2011.

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