Lloyds CEO Links Bonus to Sale

LONDON—Lloyds Banking Group PLC's chief on Friday linked his 2012 bonus payment to the government's success in selling down part of its 40% stake in the lender, highlighting the growing pressure to get the bank in shape to be privatized.

The news came as Lloyds on Friday posted a narrowed net loss for 2012 from a year earlier, despite a rise in provisions for the mis-sale of payment-protection insurance to people who didn't need it.

Chief Executive António Horta-Osório said he is "very confident" U.K. taxpayers will get their money back, referring to the stake of about 40% the government ...

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