Lloyds set to overtake RBS in bonus payments

London

LLOYDS Banking Group Plc is poised to pay more in bonuses than Royal Bank of Scotland Group Plc for the first time since the financial crisis, underscoring the contrasting performances of two of Britain's bailed out banks.

Lloyds has earmarked about £390 million (S$686.4 million) for its employee bonus pot, overtaking RBS, which is considering a pool worth about £340 million, according to people familiar with the matter. The lenders' plans are yet to be finalised, said the people, who asked not to be named because the details haven't been made public yet.