Reuters logo
BRIEF-Ex-HBOS chairman 'deeply regrets' failure to curb lending
December 4, 2012 / 1:16 PM / 5 years ago

BRIEF-Ex-HBOS chairman 'deeply regrets' failure to curb lending

LONDON, Dec 4 (Reuters) - Lloyds Banking Group PLC : * Ex-hbos chairman Stevenson says did identify long term availability

of wholesale markets as a risk * Ex-hbos chairman Stevenson says bank’s non-executive directors did

not challenge basic business model * Ex-hbos chairman Stevenson says personally regrets corporate lending

not being reined in in 2006, 2007 * Ex-hbos chairman Stevenson says bank was not an organisation

obsessed by growth or a culture of optimism * Ex-hbos chairman Stevenson says failure to foresee long-term closure

of wholesale markets was biggest mistake * Ex-hbos chairman Stevenson says board in no way encouraged a culture

of risk taking * Ex-hbos chairman Stevenson says bank was guilty of ‘a lot of

mistaken lending’ * Ex-hbos chairman Stevenson says most of lending was competent, some

was incompetent * Ex-hbos chairman Stevenson says deeply regrets bank’s failure to

rein in corporate lending book

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below