Former HBOS directors faced fresh accusations yesterday of ignoring warnings over its rapid growth from an ex-head of regulatory risk at the bank.

As former bosses of the bank and its troubled peer Royal Bank of Scotland offered up a litany of apologies to a parliamentary inquiry over the near-collapse of the banks, MPs were told that HBOS executives overlooked warnings that it was expanding too quickly and had an aggressive sales culture.

The claims – made by Paul Moore, who was dismissed in 2005 – were denied at the Treasury select committee hearing by Andy Hornby, former chief executive of HBOS, and Lord Stevenson, the former chairman of HBOS.

Financial Times