True, but 5 years ago I don’t think the eventual huge levels of pay out were recognized. The economy was moving forward and uncertainty was not rampant. There will probably be a new banking scandal along soon to replace that one.
The position for UK - facing Lloyds going forward is an economy in recession and continuing investor uncertainty. The next barrel scraping BOE interest rate cut will leave less room for profit making. Cheap to run modern challenger banks are going to put High Street banks out to grass.
The only option for Lloyds to stay afloat is a dividend cut later or sooner or to be swallowed up by a giant American bank.