Mr Horta-Osorio, who only returned to work this week after two months off due to a stress-related sleeping disorder, could have potentially received an annual bonus worth £2.39m on top of his £1.06m salary.Despite turning down his annual bonus, Mr Horta-Osorio is still eligible for a share grant for the last 12 months under a long-term incentive plan worth as much as £4.46m.
Declining his annual bonus, the Portuguese banker admitted his recent leave of absence had had "an impact both inside and outside the bank including for shareholders" and said he had told the Lloyds board he did not wish to be considered for the payment."As chief executive, I believe my bonus entitlement should reflect the performance of the group but also the tough financial circumstances that many people are facing," said Mr Horta-Osorio.
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