Lloyds Boss: My Regret Over Affair Claims

Lloyds boss Antonio Horta-Osorio has broken his silence over allegations about his private life in a memo to staff expressing his deep regret for any "damage done to the group's reputation".

The message to 75,000 employees comes a fortnight after details surfaced of an alleged extramarital affair.

Mr Horta-Osorio said he expected the highest professional standards from all at the bank "and that includes me" but added that "mistakes will be made".

The memo - details of which were earlier revealed by Sky News - said: "My personal life is obviously a private matter as it is for anyone else.

"But I deeply regret being the cause of so much adverse publicity and the damage that has been done to the Group's reputation.

"It has detracted from the great work which you do for our customers on a daily basis and from the major accomplishments of the past five years.

"More broadly I have been a strong advocate of expecting the highest professional standards from everyone at the bank, and that includes me.

"I will continue to strive to meet those standards.

"Having the highest professional standards raises the bar against which we are judged and as I have always said we must recognise that mistakes will be made.

"I don't expect anyone to get everything right all the time. The important point being how we learn from those mistakes and the decisions and actions we take afterward."

The chief executive was photographed together with Wendy Piatt, a senior academic, on a work trip to Singapore, prompting suggestions that the bank boss' expenditure during the trip warranted further scrutiny.

In his memo to staff, a copy of which has been seen by Sky News, the chief executive said his expenses had been reviewed by the group and confirmed to have been "fully compliant".

He said: "As you'd expect, I pay for my personal expenses whilst away and only reclaim what is a business expense."

Mr Horta-Osorio also addressed anxiety over his future at the bank, which remains 9% owned by the taxpayer after being rescued by the taxpayer during the financial crisis.

He said: "Please be assured that I am as committed as ever to leading the Group forward to deliver our strategy and to meet our future ambitions."

His comments were accompanied by a staunch defence of his track record at the bank, with £16bn having been returned to British taxpayers through a string of profitable share sales since 2013.

Mr Horta-Osorio has also taken the axe to tens of thousands of jobs, and said last month that it would cut another 3,000 roles and an additional 200 branches by the end of next year.

Lloyds shares were trading 2% up on Wednesday.