Lloyds boss tells banks to be ‘boring'

Banks need to become ‘simple and boring' if they want to restore public trust in the sector, according to the chief executive of Lloyds Banking Group.

Speaking at the CBI Scotland annual dinner, António Horta-Osório said banks had let the public down by becoming "complacent, non-customer focused and inefficient", the Telegraph reports. He added: "The banking industry has done itself no favours. Issue by issue and scandal by scandal, the faith and trust in our industry has been eroded. "The industry must change. We must recast the banking model ...