Lloyds chief Eric Daniels gives up £2.3m bonus

The chief executive of part-nationalised Lloyds Banking Group has given up a £2.3 million bonus, the bank said today.

Eric Daniels had been entitled to a maximum 225 per cent of his £1.04 million salary due to his "significant individual contribution", but has waived a bonus for the second year in a row to stave off another row over bank pay.

Lloyds chairman Sir Win Bischoff said the board "greatly appreciates the leadership shown by his action".