MPs to question Lloyds on Verde

Marion Dakers
THE TREASURY select committee will next week grill the top brass at Lloyds Banking Group over the failed sale of 632 branches to the Co-operative.

Lloyds chief executive Antonio Horta Osorio and outgoing chairman Sir Win Bischoff will appear before the committee next Tuesday to face questions on the sale, dubbed Project Verde and required by a European ruling on its 2008 bailout. The deal with the Co-op fell through in April.

“We will want to know how The Co-operative Bank’s bid was allowed to progress to such an advanced stage, why it collapsed and what will now happen to these branches and their customers,” said Andrew Tyrie MP, head of the committee.