In response to Lloyds annual results

Wednesday, February 22, 2017

In response to Lloyds' annual results

With another £2bn set aside today, Lloyds total for fines and compensation over the last six years has now smashed the £20bn mark  at £21,590bn.

Compared to £11bn for HSBC and an estimated £16bn RBS and £14bn Barclays this makes Lloyds the most fined bank.

David Hillman, spokesperson for the Robin Hood Tax campaign, said:

“Lloyds chief António Horta-Osório must be laughing all the way to the bank. After years of bad behaviour –resulting in an eye-watering £20 billion in fines – its CEO is going home with nearly £6 million.

"Once more a city boss is receiving extortionate pay for overseeing corporate malpractice. It's high time the government did something about this flawed and unfair culture of rewards.”

ENDS

For more information contact:

Asha Tharoor on media@robinhoodtax.org.uk or 07813 688680

Notes to editors:

The Robin Hood Tax campaign is a coalition of 120 UK organisations including Barnardo’s, Comic Relief, Oxfam, Friends of the Earth, Stamp Out Poverty and UNISON: www.robinhoodtax.org.uk

The campaign has more than 250,000 supporters and is endorsed by over 1,000 economists

The campaign is calling for financial transaction taxes to help tackle poverty and climate change, at home and abroad.