THE CHIEF executive of Lloyds Banking Group, Antonio Horta-Osorio, was forced to apologise to customers as he agreed to give up part of his multimillion-pound bonus. The state-backed lender was hit with a record £117 million (R2.2 billion) fine by City regulators yesterday for mishandling thousands of complaints about payment protection insurance between March 2012 and May 2013. Lloyds said it had decided not to pay senior management £2.65m of bonuses covering the period because of this. Horta-Osorio, who picked up £11.5m in pay last year, is set to forgo about £350 000. Yesterday's fine will be felt widely across the group, with £30m of bonuses being cut. – The Independent