Sunday 22 October 2017

Kane's silence on lost Lloyds bonus is deafening

HAS Archie Kane, the new Bank of Ireland governor, decided to sue Lloyds-TSB to recover his lost bonus?

His silence on his loss is deafening. Of course, we will understand if the matter is sub judice. Somehow I do not think it is.

The incredible Lloyds Bank saga goes on.

And here in Ireland the Bank of Ireland governor sits silent, watching as the news from his old hunting ground gets more embarrassing by the day.

On Thursday, the Guardian newspaper revealed that Lloyds took another £700m hit for mis-selling Payment Protection Insurance (PPI). Worse still, Lloyds admitted that it could get caught up in the Libor scandal.

Neither the Bank of Ireland nor Archie Kane himself have commented on the PPI scandal at Lloyds, which occurred on his watch as insurance director.

It would be wonderful to hear his side of the story. If we hear nothing from Archie, perhaps we Bank of Ireland shareholders should begin to ask more questions.

And maybe even take a bit of action.

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