Lloyds will cut an additional 3,000 jobs and close 200 more high street branches in the wake of Brexit uncertainty and the move towards digital banking services.
Lloyds Banking Group has confirmed that it plans to close more than 150 branches axe 9,000 jobs as part of a modernisation programme.
The past few months have seen the flotation of Royal Mail, the Lloyds share sale and the first national employee ownership day. The theme linking these three developments is one that has been around since the 1980s: the belief that everyone should own property and shares in companies.
Lloyds Banking Group, which is part-owned by the UK government, posted a profit of £2.1 billion in the first six months of 2013.
The Parliamentary Commission on Banking Standards has produced its long-awaited report on the financial sector, which attacks the lack of accountability of bankers for their actions and said bonuses should be deferred for ten years to prove success.