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Lloyds sees barrage of allegations over poor service, misconduct at its AGM - Reuters

Published: 15:55 24 May 2018 BST

Lloyds Bank branch
The hardest-hitting questions, Reuters added, were posed by investors concerned the fallout from one of Britain's worst banking frauds at the Reading branch of Lloyds' HBOS unit

Lloyds Banking Group PLC (LON:LLOY) faced a barrage of allegations over poor customer service and withholding misconduct compensation at its annual general meeting on Thursday, according to a Reuters report.

Shareholders of the FTSE 100-listed lender were quick to vent their anger over issues from fraud to the mistreatment of small businesses and the rates it charges "vulnerable" mortgage borrowers, the newswire said.

READ: Lloyds to sell Irish residential mortgage portfolio to Barclays

The hardest-hitting questions, Reuters added, were posed by investors concerned the fallout from one of Britain's worst banking frauds at the Reading branch of Lloyds' HBOS unit, an independent review into which has slipped into 2019.

Six people, including two former HBOS bankers, were jailed last year for the fraud and the bank is still being investigated by Britain's National Crime Agency.

Shareholders grilling Lloyds about the case included television presenter Noel Edmonds, Reuters said, who said the bank had reneged on promises to pay consequential losses to affected customers over and above any compensation due.

Edmonds has been a vocal critic of Lloyds ever since the collapse of his company, Unique Group, which he has alleged was "groomed, pillaged and destroyed" by the bank, leading to scores of job losses.

A little more than a year since its return to private ownership after the UK government finished selling down the stake it assumed in the group following its bailout during then 2008 financial crisis, Lloyds has completed a restructuring of its business but is still struggling to restore its reputation.

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