Anger over bonuses was always likely to be less strident at Lloyds because it does not have an investment bank which are normally responsible for the biggest fat cat stories.
The bank has also managed expectations, first with chief executive Antonio Horta-Osorio's decision not to take an annual bonus for 2011, and second with its decision to clawback 2010 bonuses from 13 directors and executives over the payment protection insurance mis-selling scandal which cost it £3.2 billion.
Horta-Osorio could have been due a £2.4 million bonus but turned it down because of his time off sick and the worsening economy. His predecessor, Eric Daniels, saw £580,000 of his 2010 bonus taken back as part of the £1.5 million clawback.
Lloyds said its bonus pool is 30% down to £375 million with executives' payouts some 50% lower than in 2010.
