International rescue: How Horta-Osório relaunched Lloyds

By:
Clive Horwood
Published on:

When António Horta-Osório took over Lloyds Banking Group in 2011, a once great institution was on its knees. The scale of the challenge he faced surprised even the new chief executive. Two-and-a-half years later, Lloyds is in the black, posting £2.1 billion in first-half profit, paving the way for the UK government to divest its 39% stake and begin discussions with regulators over resuming dividends. Euromoney tells the inside story of one of the great post-financial crisis turnarounds.