Lloyds CEO Antonio Horto-Osorio has been forced to defend his £1.7m bonus, claiming it is in the interests of the taxpayer.
The bank increased its bonus pool from £395m, up from £65m in 2012, after reporting its first profit since the financial crisis. The bank said it had achieved a pre-tax profit of £405m, its first since the government bailout in 2008. Horta-Osorio told the BBC: "I strongly believe you should link compensation with performance, and having increased our underlying profits by 140%, we thought it was appropriate to increase the bonus pool of the bank by 8%. "I have also agreed to have additional conditions to my bonus...
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