The Lloyds Banking Group has said in its half year results that it remains committed to becoming a top three Financial Planning business by the end of 2023, with the transition of assets to the joint venture with Schroders on track.

Lloyds Banking Group is hunting for a new CEO to replace António Horta-Osório who will step down as chief executive in 2021 after nearly 10 years.

The Financial Conduct Authority has fined Lloyds Bank, Bank of Scotland and The Mortgage Business over £64m for failures in relation to their handling of mortgage customers in payment difficulties or arrears.

The directors of the Lloyds Banking Group, which includes Scottish Widows and half of new Financial Planning arm Schroders Personal Wealth, have waived their 2020 bonuses.