Lloyds CEO , Antonio Horta - Osorio , says that banks need strict regulation so as to protect the banking culture and win back customer trust . " A series of examples of past practises has rocked our industry to its core . Speaking to almost a thousand heads of businesses across the UK, the Lloyds chief admitted the misconduct by banks pre-2008 created a relationship of mistrust. PPI , Libor rate fixing , they have all taken their toll , and rightly so , on the relationship banks have with customers and society at large " , he said . In regards to Lloyds itself , Mr Ramos - Osorio says that the bank was shedding non - core assets and focusing on its UK operations , thereby creating a low - risk business .
Lloyds CEO , Antonio Horta - Osorio , says that banks need strict regulation so as to protect the banking culture and win back customer trust . " A series of examples of past practises has rocked our industry to its core . PPI , Libor rate fixing , they have all taken their toll , and rightly so , on the relationship banks have with customers and society at large " , he said . In regards to Lloyds itself , Mr Ramos - Osorio says that the bank was shedding non - core assets and focusing on its UK operations , thereby creating a low - risk business .