Lloyds' Daniels: 'We did the country a great service' over HBOS

Lloyds chief executive Eric Daniels says the banking giant "did the country a great service" in taking over stricken lender HBOS last year.

The American, speaking after Lloyds bounced back to profit last week, says the purchase will turn out to be a good deal for the bank despite the short-term pain, the Telegraph reports. While many Lloyds shareholders have been extremely critical of the deal, which saw the bank's share price plunge to just 19p in March last year, Daniels remains convinced the deal was the right thing to do. "Why am I not apologising about HBOS? Because I believe this will turn out to be a very, very good deal," he says. "I think we did the country a great service [buying HBOS] by not costing the taxp...