Lloyds returns to profit, hands out $655 mln in bonuses

LONDON Thu Feb 13, 2014 2:15am EST

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LONDON Feb 13 (Reuters) - State-backed Lloyds Banking Group said it paid 395 million pounds ($655 million) in bonuses last year, up 8 percent on the year before, as it reported a profit for the first time since it was rescued by taxpayers six years ago.

Lloyds, 33-percent owned by the government, said it paid a 1.7 million bonus to Chief Executive Antonio Horta-Osorio.

The bank reported a statutory profit of 415 million pounds for 2013 compared with a loss of 606 million the year before. Underlying profit more than doubled to 6.2 billion.

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