File photo dated 04/08/10 of a sign for Lloyds Banking Group as the taxpayer-backed bank is set to stoke further controversy over bonuses today amid reports it will announce a rise in staff payouts and shares windfall worth more than ?1.5 million for boss Antonio Horta-Osorio. PRESS ASSOCIATION Photo. Issue date: Thursday February 13, 2014. The group is expected to say its staff bonus pot has risen close to ?400 million for 2013, up from ?365 million for 2012, alongside full-year results showing a return to bottom line profits. Under a deal agreed with UK Financial Investments - the government body charged with managing taxpayer stakes in banks - it is thought that Mr Horta-Osorio will only receive his bonus if the share price remains above 73.6p for six months or half of the remaining 33% taxpayer stake in the bank is sold off. See PA story CITY Lloyds. Photo credit should read: John Stillwell/PA Wire
%VIRTUAL-SkimlinksPromo%Lloyds Banking Group chief executive Antonio Horta-Osorio is in line for a potential shares bonus worth £1.7 million for 2013 and staff will share a £395 million payout.
The taxpayer-backed lender said Mr Horta-Osorio's windfall is deferred for five years and is dependent on performance conditions, while the wider staff bonus pot is 8% higher than the £365 million paid out for 2012.
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