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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 chief: Banks lost focus on customers

Lloyds Banking Group chief executive Antonio Horta-Osorio will say that banks have lost focus on the customer, in a speech this evening.

Mr Horta-Osorio will say banks became “complacent, non-customer focused and inefficient" allowing high levels of complaints.

He will also say that banks sold overly complex products to customers "who didn't need or understand" them.

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