Lloyds to claw back £2m bonuses

Lloyds Banking Group is to claw back bonuses worth around £2m in the wake of the scandal over payment protection insurance, it was reported today.

Former chief executive Eric Daniels will lose up to £700,000 of his £1.45 million bonus for 2010, while three other current and former directors will each have to forgo up to £250,000. A further six executives, below board level, will be stripped of around £100,000 each, the BBC added.