The head of Lloyds Banking Group said it had made "significant progress" despite reporting a third quarter loss, caused by additional costs from the PPI scandal.
"We could not transform this business without addressing the PPI legacy," Chief executive Antonio Horta-Osorio said, adding that he was confident the group could rebuild the trust of its customers.
Mr Horta-Osorio said the scandal happened as banks "lost sight of their core values, had become complacent, non-customer focused and inefficient".
More top news
A switch in the wind direction will mean the unseasonably bitterly cold air of the last few days finally gives way.
Beyoncé's new album Lemonade has knocked the late Purple Rain singer off the coveted top spot.
Actress and campaigner tells ITV News the only way to end the trade in illegal ivory is for the West to stand up to Beijing.