Bonuses at Lloyds despite new loss

Lloyds Banking Group boss Antonio Horta-Osorio has been awarded a £1.5m shares bonus while staff will share a £365m total pot despite further losses in the wake of mammoth provisions for mis-selling claims.

The taxpayer-backed bank remained in the red with pre-tax losses of £570m in 2012 after setting aside £3.6bn for compensation relating to the payment protection insurance (PPI) scandal and £400m for the mis-selling of interest rate swaps to small businesses.