leadf
logo-loader
viewLloyds Banking Group

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

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

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.

Quick facts: Lloyds Banking Group

Price: 39.09 GBX

LSE:LLOY
Market: LSE
Market Cap: £27.5 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Luckbox gets set for Toronto listing to 'continue building the story and...

Luckbox's Quentin Martin is preparing to list on Toronto’s TSX Venture Exchange after already managing to raise CA$6mln in the summer. Already well funded, Martin now wants to 'build the story, continue to build the investor base and drive value. We will be investing healthily...

42 minutes ago

2 min read