Bank chief's earnings down 16%

Lloyds TSB chief executive Eric Daniels took home £1.06m (€1.6m) during 2003 - 16% less than he earned the previous year, the bank said today.

The group’s annual report showed that Mr Daniels earnt a basic salary of £596,000 (€907,500) during the year and a performance related bonus of £258,000 (€392,900).