Noel Edmonds blasts Lloyds after ‘devastating’ customer survey
The TV star is planning to launch a legal case against the bank.
TV star Noel Edmonds has said Lloyds Banking Group should be “very concerned” about its reputation after a survey he commissioned found 80% of its customers want senior management to be held accountable for fraud at HBOS.
A ComRes poll surveyed 2,006 respondents and found that 84% would back a public inquiry into whether management concealed the HBOS fraud before its takeover by Lloyds at the height of the financial crisis.
Around 60% believed the HBOS fraud case and Lloyds’ subsequent actions have impacted their belief that Lloyds acts in the best interests of customers.
I didn’t realise quite how devastating it would be for Lloyds Bank, and their senior management have to listen to public opinion now Noel Edmonds
Mr Edmonds told the Press Association: “This survey shows a high level of public awareness, and a high level of public distrust, and they should be very concerned.
“And I hope that the senior management will change the way they treat the way victims of their wrongdoing.”
The report was commissioned by the Deal Or No Deal Star and funded by Therium, which is financially backing his litigation efforts.
He is planning to pursue Lloyds for around £64 million in damages for losses allegedly suffered when his former business Unique Group was destroyed because of the fraud, although he has yet to lodge legal papers.
Corrupt bankers from the HBOS Reading branch were jailed last year for the £245 million loans scam which destroyed several businesses, before they squandered the profits on high-end prostitutes and luxury holidays.
The ComRes survey also found that around 87% believe regulators need to be more vigilant in making sure Lloyds pays proper compensation to victims of the HBOS fraud, and 78% said the Financial Conduct Authority should force Lloyds to be more transparent on the number of settlements and the amounts.
We are still waiting for Mr Edmonds to file his legal claim. If he does file his claim, it will be contested Lloyds Banking Group
A series of letters recently released by the Treasury Select Committee show Lloyds has paid out £75 million so far to victims with some complainants receiving up to £5 million each.
Lloyds has put aside around £100 million to deal with the issue.
Mr Edmonds said: “The Comres results, I have to admit, I didn’t realise quite how devastating it would be for Lloyds Bank, and their senior management have to listen to public opinion now.”
A spokesman for the lender said: “Lloyds Banking Group takes trust and reputation extremely seriously.
“We commission a quarterly survey of over 1,800 customers to monitor trust. The independent survey, run by Ipsos Mori, shows that 75% of our customers trust Lloyds Bank.
“We are still waiting for Mr Edmonds to file his legal claim. If he does file his claim, it will be contested.”