Lloyds Banking Group pays 25 staff more than £1m

Lloyds Banking Group paid 25 of its bankers £1m or more in 2012 as its total bonus payouts hit £365m, according to the BBC.

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This month Barclays revealed it has 458 employees receiving more than £1m, while HSBC has 204 and Royal Bank of Scotland has 94 staff.

Lloyds, which is 39 per cent owned by taxpayers, paid 20 of its bankers between £1m and £2m, while five earned between £2m and £3m.

Most bonuses were paid in shares with a £2,000 cap on the maximum cash payment.

Lloyds chief executive Antonio Horta-Osorio took home £1.5m in shares as his annual bonus which he will only sell if the Government sells one-third of its stake above 61p.

He also received a basic salary of £1.1m and long-term incentive of £1.5m, bringing his total remuneration to £3.7m.

Earlier this month, the bank reported losses of £570m and set aside an extra £3.5bn to deal with payment protection insurance misselling claims, bringing its total PPI pot to £6.8bn.