UK's Lloyds set to keep £2,000 cap on cash bonuses, say sources

London

LLOYDS Banking Group Plc, Britain's largest mortgage lender, is set to keep a £2,000 (S$4,179) restriction on cash bonuses until after the UK government has sold all of its shares, according to two people with knowledge of the matter.

The London-based lender is entering talks with UK Financial Investments Ltd, which manages the Treasury's stakes in bailed-out banks, as it seeks to finalise its compensation plans for 2015, said the people who asked not to be identified because the discussions are private. No final decision has been made, the people said.