Lloyds Banking Group profits plummet 26% amid massive £2.5bn PPI bill
Lloyds Banking Group has revealed its annual profits tumbled by more than a quarter after it was hit by a £2.5bn for the payment protection insurance (PPI) scandal.
The lending giant reported pre-tax profits of £4.39bn for 2019, down by 26% on 2018.
It said the staff bonus pool was slashed by 33% to £310.1m for 2019 after the steep profits fall.
The annual report also revealed that chief…