British bank LBG to axe up to 5,000 jobs: Media

LONDON: Britain's state-controlled Lloyds Banking Group plans to announce it is cutting 5,000 more jobs, media reported on Tuesday.

An LBG spokeswoman said, the company did not comment on "speculation."

The British government has a 43-per cent stake in Lloyds Banking Group after bailing out the company in the wake of the financial crisis.

LBG, created in January when Lloyds TSB bought rival lender HBOS in a state-brokered deal, has already axed about 8,000 jobs since the start of 2009.