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RBS, Lloyds disclose gender pay gaps of over 37%

Royal Bank of Scotland Group Plc is the latest bank to disclose its gender pay gap, with women paid 37.2% less than men, according to the bank's 2017 annual report.

Lloyds Banking Group Plc revealed in its annual report on Feb. 21 that it has a gender pay gap of 37.6%.

In a statement in RBS' annual report, Chairman Howard Davies said the bank still has a long way to go in improving gender equality. "Our gender pay gap reflects an under-representation of women at senior levels. That is not a satisfactory position and we know that we still have much to do to narrow the gap," he said.

The bank set itself a target in 2015 to have 30% of roles at the most senior levels in each business filled by women. It has now reached 37%, and is aiming for 40% by 2020, according to the annual report.

Lloyds said it too has committed to a target of women holding 40% of senior roles by 2020, according to its annual report.

In its annual report, Barclays Plc revealed a gap of 48% in its International division, attracting criticism from the U.K. Treasury parliamentary select committee.

All firms in the U.K. with 250 employees or more must report information on gender and pay to the government ahead of an April 4 deadline.