Thousands of Lloyds TSB staff are to share a £252 million shares and bonus scheme payout, the finance giant has announced.

The money includes £40 million in shares, giving employees three per cent of their salary, up to a total value of £3,000 each. Millions of pounds worth of shares will also be given to workers.

Mike Fairey, Lloyds TSB's deputy group chief executive, said: "Our reward package aims to give our staff the recognition they deserve for the huge contribution they make to the success of our business."