Lloyds Banking Group is cutting 3,000 jobs and shutting 200 branches as the lender braces itself for a cut in interest rates following Britain's decision to quit the European Union.

Lloyds Banking Group, Britain’s largest mortgage lender, will eliminate about 640 jobs and close 23 branches as part of a cost-cutting programme that started in October 2014.

Lloyds Banking Group has insisted it delivered a "robust" performance in the first three months of the year despite posting falling profits.

Lloyds Banking Group set aside a further £1.4bn (€1.99bn) to compensate customers mis-sold loan insurance, pushing its first-half profit below analysts’ forecasts.

Lloyds Banking Group has added £1.4bn to its bill for compensating customers mis-sold payment protection insurance (PPI).

Lloyds Bank is expected to set out its dividend plans next week, including a potential return of surplus cash to shareholders, making its stock more attractive ahead of a possible sale to retail investors, industry sources have said.

Lloyds Banking Group chief executive Antonio Horta-Osorio said a return of the company to full private ownership was “within sight” and praised a plan that allowed the British government to sell shares in the open market.

Britain will launch a sale of shares in Lloyds to private retail investors in the next 12 months in what is expected to be the biggest privatisation since Margaret Thatcher’s government sold off assets in the 1980s.

Lloyds Banking Group could be fully returned to private hands within the next year, chairman Norman Blackwell said at the company’s annual meeting yesterday.

Lloyds Banking Group is expected to announce its first shareholder payout in seven years when it reports its annual results tomorrow.

Lloyds Banking Group has set aside an extra £900m (€1.1m) for mis-sold insurance.

State-backed Lloyds Banking Group is to cut 9,000 jobs over the next three years as part of plans which will see the net closure of 150 branches.

Lloyds Banking Group, which is backed by the British Governmnet, is reportedly preparing to cut thousands more jobs and close branches as part of its “digitisation” strategy.

Lloyds Banking Group has fired eight members of staff and withheld bonuses worth £3m (€3.83m) as part of disciplinary action taken in the wake of July’s revelations about rate-fixing.

Shares in TSB rose by as much as 15% today as the lender returned to the stock market after nearly two decades.

TSB will return to the British stock market for the first time in nearly two decades next month after taxpayer-backed owner Lloyds Banking Group announced its long-awaited flotation.

The British taxpayer’s stake in Lloyds Banking Group has been cut to 25% after the British Government raised £4.2 billion from the sale of more shares last night.

Lloyds Banking Group today set aside another £1.8bn to cover compensation for the mis-selling of payment protection insurance.

Aberdeen Asset Management is to become Europe’s biggest independent fund manager after striking a deal worth up to £660 million with Lloyds Banking Group.

Lloyds Banking Group, Britain’s biggest mortgage lender, posted a wider third-quarter loss after setting aside an additional £750m (€875m) to compensate clients wrongly sold loan insurance.

Lloyds chief executive Antonio Horta-Osorio is on course to land a share price linked bonus currently worth around £2.3m within weeks.

A £3.21bn chunk of UK-taxpayer-backed Lloyds Banking Group has been sold by the British Government as it begins the process of returning the bank to private hands.

TSB will become Britain’s eighth biggest high street bank when it is re-launched today as a standalone brand 18 years after disappearing when it merged with Lloyds.

TSB will become Britain’s eighth biggest high street bank in the UK when it is re-launched next week as a standalone brand 18 years after disappearing when it merged with Lloyds.

Lloyds Banking Group has told potential investors it expects to pay out up to 70% of its earnings in dividends by 2015, the Financial Times reported, sending shares in the British bank up over 3% in early trading yesterday.

Britain could soon start selling its stake in Lloyds Banking Group after the country’s largest retail bank accelerated a turnaround and flagged a return to payouts for shareholders.

Bank employees are lying about the sector that they work in out of shame, according to the Irish Bank Officials Association.

A return to dividends at Lloyds Banking Group could be on the cards after its chief executive said the state-backed bank’s improving health increases the possibility of payouts.

First quarter figures from Lloyds Banking Group and Royal Bank of Scotland come amid intense scrutiny on the taxpayer-backed players after Lloyds revealed the collapse of its planned sale of 632 branches.

British taxpayer-backed Lloyds Banking Group handed 25 of its staff £1m or more in pay and bonuses last year, its annual report showed today.

Lloyds Banking Group is expected to reveal this week that it paid more than 20 of its staff £1m or more last year.

Lloyds, Britain’s biggest retail bank, has set aside another £1.5bn (€1.7bn) to compensate customers mis-sold loan insurance, hitting its shares and tempering prospects for a swift sale of the government’s stake.

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.

Taxpayer-backed Lloyds Banking Group has sold more than £1bn (€1.27bn) of investments it inherited from its disastrous takeover of HBoS as part of its drive to return its balance sheet to health.

Lloyds warned of a long, hard economic recovery and set aside an extra £375 million (€458.22m) to compensate people mis-sold insurance, underscoring the challenge facing Britain’s banks as they battle to recover from financial crisis.

Lloyds was the biggest faller on London’s leading shares index today after it suffered a £3.5bn (€4.12bn) loss and warned of further problems ahead.

Three out of four people in the UK think bosses at bailed-out banks should not get a bonus, according to research.

Barclays was accused of ignoring anger over bonuses and running “business as usual” as it revealed a £1.5bn (€1.8bn) pot for investment bankers yesterday.

Banking giant Barclays slashed the bonus pool for its investment banking arm by 32% in 2011 to £1.5bn (€1.78bn0)amid mounting pressure over the controversial payouts.

Banking giant Barclays will report another multibillion-pound profit haul tomorrow despite a turbulent year for its powerhouse investment arm.

A weak start for London shares turned into a full-blown rout today as investors ditched risky stocks on more global growth fears.

London’s leading shares index took a fresh beating today as continued deadlock over America’s budget deficit added to worries about European debt.

Lloyds Banking Group is under mounting pressure to provide an update on the leadership vacuum created by the absence of its chief executive, it was claimed today.

The Co-operative Group has said it will put in a renewed bid for 632 branches being sold by Lloyds Banking Group.