Despite pre-tax profits remaining unchanged compared to the previous year, Lloyds Banking Group has announced a 12% increase in its bonus pool for 2022.
The bank, the nation’s largest mortgage lender, reported earnings of £6.9 billion for the year, the same amount as in 2021.
The bank set aside £1.5 billion for troubled loans over the course of the year, with £500 million reported in the fourth quarter.
Its distinct annual report revealed that the workforce would receive bonuses totaling £446 million.
According to the document, Charlie Nunn, the CEO, would earn £1.33m plus a 150% long-term share plan award.
