Published March 24, 2013
LONDON – Lloyds Banking Group paid more than 20 of its staff at least one million pounds ($1.5 million) last year, a move likely to inflame anger among lawmakers and the public over excessive banker pay, The Sunday Times reported.
The part state-owned bank will include the figure in its annual report this week, bringing the number of bankers paid in excess of one million pounds among the country's five big lenders to almost 770, the British newspaper said.
Lloyds declined to comment on the report.
The European Union has introduced a cap to restrict bankers' bonuses to one times annual salary, a move designed to address public anger at a bonus-driven culture many European politicians believe encouraged the risk-taking that led to the near-collapse of some of the region's biggest banks.
($1 = 0.6562 British pounds)
(Reporting by Tom Bill; Editing by Mark Potter)