USD 1.7

Baku 26 °C

AZ RU EN FA FR

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Home page

Lloyds cuts back Â£2m from bonuses paid to executives

Lloyds cuts back Â£2m from bonuses paid to executives

20 February 2012 15:35 (UTC +04:00)

Baku - APA-Economics. Lloyds Banking Group has confirmed it is cutting Â£2m from bonuses paid to 13 executives, including the former chief executive Eric Daniels, APA reports citing BBC.

Four of those affected were board directors. Mr Daniels will lose Â£600,000 after his original Â£1.45m bonus was cut by 40%. They are being penalised over their role in the mis-selling of payment protection insurance (PPI), which in theory, covered repayments if borrowers were unable to keep them up.

The plans promised help during illness or unemployment, but in many cases, those taking out the policies would not have been eligible to claim on them. Lloyds has been forced to set aside Â£3.2bn to cover compensation for those customers who were mis-sold PPI.

Finance

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

BSTDB Vice President Ziya Aliyev

BSTDB has financed over €9 billion in projects since its establishment – Vice President

BSTDB President Serhat Köksal

BSTDB President: Our more than 20-year partnership with Azerbaijan is built on mutual trust

ATTENTION!

Dear user for receiving paid news sign up

Sign up

ATTENTION!

Dear user for receiving paid videos sign up

Sign up

ATTENTION!

Dear user for receiving paid photos sign up

Sign up

THE OPERATION IS BEING PERFORMED