I’m told the extremely tardy official report into the collapse of HBOS will be published early in the New Year and will contain criticism of the former chairman, Lord Stevenson, and chief executive, Andy Hornby. Whether it also imposes sanctions is another matter.
During a recent stay with friends in England I was appalled to see a cinema ad for Lloyds Bank, part of its £30 million “moments that matter” campaign which tries to imply that the bank has only its customers’ best interests at heart. How can the Advertising Standards Authority allow this so soon after the £28 million fine on the bank for foisting on 700,000 of its customers investment products they did not want or need?
Bizarrely Lloyds Banking Group has bought back into one of the companies it sold when it unloaded the former HBOS integrated finance portfolio in a £480 million deal in 2010.
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