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Lloyds boss: Banks must reform

The boss of Lloyds Bank has said the industry cannot continue lurching "from crisis to crisis". António Horta-Osório said it must break with the culture of the past, saying they had become “complacent, non-customer focused and inefficient.”

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Lloyds announce banking changes

Lloyds chief Antonio Horta-Osorio will say that his bank are committed to the following changes:

  • Ensuring pay is linked to the long term performance of the bank and that it can be clawed back.
  • Reducing customer complaints.
  • Building the safest bank in the UK by becoming completely ring-fenced ahead of the 2019 deadline.

Mr Horta-Osorio will add that a healthy banking industry can play a “full part in the economy, helping to sustain business growth, job creation and wealth generation".

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