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New national public opinion survey reveals Lloyds senior management denial, delay and lack of transparency in the treatment of Lloyds HBOS fraud victims has reduced trust in Lloyds brand and its senior management to critical condition with public and Lloyds’ customers.

A recent independent national survey carried out by ComRes and funded by Therium on behalf of Noel Edmonds reveals that distrust in Lloyds is so high that the majority (57%) of the public believe Lloyds should be stopped from using‘By Your Side’as a line in its adverts. Only 36% of Lloyds own customers surveyed believed Lloyds should be allowed to keep the‘By Your Side’line.


The survey results are a damning indictmentof the bank’s senior management. and are critical of their treatment of the Lloyds HBOS Fraud victims which is damaging Lloyds brand and its appeal to customers. The Lloyds brand has been built over hundreds of years and is valued at $6.4bn by Brand Finance. It also currently has over 1 million small business customers and is in jeopardy because:

  • 60%of the publicstate the HBOS fraud case and Lloyds’ subsequent actions has decreased their belief that Lloyds acts in the best interests of their customers.
  • 63% say that Lloyds senior management claims they were unaware of fraud being committed at HBOS prior to the purchase of the bank are notbelievable.54% of those who actually bank with Lloyds say they are unbelievable.
  • 79% believe it would have a negative effect if they were a small or medium sized enterprise looking to choose a bank and they were aware of the HBOS fraud case and Lloyds’ response to it.

The public and Lloyds’ own customers surveyed believe senior management at Lloyds need to be made more accountable for their conduct and resolution of the distress and losses caused to victims of the Lloyds HBOS fraud case.

  • 87% of the public agree, with 58% strongly agreeing, that financial regulators need to be more vigilant when it comes to making sure that Lloyds pays proper compensation that reflects the financial losses and emotional damage of victims of the HBOS fraud case.
  • 84% of people, and 80% of Lloyds’ own customers surveyed, believe someone in senior management should be held accountable for the HBOS fraud case, or the response by Lloyds in providing resolution for customers.
  • 91% of people, and 87% of Lloyds’ own customers, believe that Lord Blackwell should be held to account to at least some extent for delivering on his promise at the AGM in May 2017 that victims would have resolution in “weeks not months’. In terms of how Lord Blackwell should be held to account:
    • 55% of those who feel that Lord Blackwell should be held to account think the Financial Conduct Authority should investigate his behaviour.
    • 52% think he should contact people who are awaiting their compensation and explain the delay.
    • 46% believe a vote of confidence should be held by shareholders at Lloyds to determine whether he should stay on as Chairman
    • 44% believe he should write personally to shareholders explaining why a large number of cases still remain unresolved
    • 31% believe he should be stripped of his peerage

The public believe Lloyds should be forced to change its practice of conditional settlements. When settlements are offered it is only offering ‘compensation’ vs. also agreeing to ‘losses’, or only if the victim signs a non-disclosure agreement:

  • Almost 4/5 (78%) of people, and 75% of Lloyds’ own customers surveyed, believe that the Financial Conduct Authority should force Lloyds to stop the conditional settlement of claims and be transparent on the number of settlements and their amounts.
  • 88% of people, and 86% of Lloyds’ own customers surveyed say that if they had been affected by the HBOS fraud case, of Lloyds’ subsequent actions, that Lloyds should be held responsible for compensating them for their losses.

4/5 (78%) agree that the media coverage of Noel Edmonds’ personal experience, has increased the amount of public scrutiny on Lloyds and the compensation process they are overseeing in relation to the fraud at HBOS. Edmonds, who employed consultancy Maverick Planet to develop the survey via ComRes, comments:

“Lloyds spent £25m last year on its Black Horse brand commercial using the line“By Your Side”, money which should have been spent compensating fraud victims for the financial losses which Lord Blackwell said they have suffered, but which are invariably denied in the Griggs review process. On Lloyds’ bank own website in its brand ethics and values section it says:“One of the ways we are re-building public trust is through a culture of responsibility. We expect our people to put customers’ needs at the heart of everything we do, and each play their part in shaping a culture that is underpinned by values, professional standards and integrity’. This isn’t a descriptionI or any victims recognise from our dealings with the senior management of Lloyds. We are, supposedly, the customers. Yet we only recognise a battle over years to not allow Lloyds senior management to wear us down into submission by bullying and obfuscation. The battle continues. However, you would think that if it’s so clear the extent to which this continued behaviour is damaging the brand in the public and their own customers’ eyes – that the senior management might apply the brand values which they claim to espouse and now deliver on them”.

Note to editors



2,006 nationally representative interviews were conducted online among a adults living inGreat Britainbetween 1st and 8thJune 2018. The questionnaire was developed in conjunction with ComRes. Data were weighted to be representative of age, gender, and region. ComRes is a member of the British Polling Council and abides by its rules.

About ComRes:

ComRes Ltdisa market research consultancy headquartered in London, UK and operating internationally. ComRes was a founding member of theBritish Polling Councilin 2004 and is one of the UK’s best known polling companies. The company is prominent in the British media through its regular voting intention polls for ITV News, the Daily Mail. Other media outlets such as The Independent, the BBC, and Sky News also regularly commission ComRes research.

For the full data tables please click this link