Lloyds Banking Group unveiled £6.3billion in losses yesterday. Chief Executive of the group, Eric Daniels, however, was not exactly what you would usually call, apologetic about poor performance.
His group wrote off a £24 Billion in bad debts, mostly after the group bought Halifax Bank of Scotland last year. Needless to say, it did not turn out too well.
The Chief Executive, however, did not regret his decision over the deal that kicked off the bank's decline. Some humility there, Mr. Daniels, maybe? Or even season it with some remorse as well, while you’re at it?
Lloyds was apparently “exposed” recently as the most hated bank in Britain (!).
20,190 out of the 82,000 people, who took their cases to the ombudsman, had Lloyds Banking Group on their minds.
With more than 30 million customers, which makes it Britain's biggest banking group, Lloyds, according to experts, is expected to attract large numbers of complaints. Its figures, for the sake of consolation, compares poorly with rivals HSBC, which suffered 3,048 complaints and Abbey with 2,983.
A Lloyds spokeswoman later came up with a new thought out statement, saying that they (Lloyds) take “all customer complaints very seriously and are committed to working with the industry and regulators to ensure that complaints are dealt with fairly, quickly and consistently”. Don’t worry Mister/Miss Spokesperson; complaints are a trend with finance firms these days. Don’t care.
On a positive parting note, Mr. Eric Daniels did waive his £2.3m bonus for 2009. Something to cheer, maybe?












