| 5.6°C Dublin

Lloyds chief 'set for €2.4m bonus'

The outgoing chief executive of British taxpayer-backed Lloyds Banking Group is poised to receive a bonus of around £2m (€2.4m), it was reported today.

Eric Daniels is set to be awarded the windfall by the Lloyds board in this year's controversial bank bonus round, according to the BBC.

The bank boss, who leaves Lloyds in March, is entitled to a £2.3m maximum bonus, set at 225pc of salary.

He has waived his bonuses for two years in a row, but any payout is likely to fuel mounting anger over bank handouts as reports suggest the industry is preparing to fork out a bumper £7bn in bonuses.

PA Media