Lloyds’s Exposure to Ireland Doesn’t Worry Daniels, FT Reports

Lloyds Banking Group Plc Chief Executive Officer Eric Daniels said the bank’s 27 billion-pound ($43 billion) exposure to Ireland, less than 3 percent of its total assets, was “not something to be particularly worried about,” the Financial Times reported, citing an interview.

On another matter, Daniels said the U.K. government should not consider requiring the banking group to split its operations and unwind its takeover of HBOS, according to the newspaper. The Labour government at the time of the merger promised that competition concerns would be waived, and the secretary of state “signed off the deal,” the FT cited Daniels as saying.

To contact the reporter responsible for this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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