Campaigners have called for former Lloyds chairman Sir Victor Blank to be treated in the same way as Fred Goodwin and be stripped of his knighthood.

Sir Victor was knighted in 1999 "for services to the financial industry" before he joined Lloyds, but critics argue that his role in its disastrous takeover of HBOS four years ago means he should have the honour annulled. The bank required a £21 billion state rescue package during his tenure as chairman.

The Lloyds Action Now Association has written to the head of the Civil Service demanding that the forfeiture committee review the case.

The decision to revoke Mr Goodwin's title has been criticised as a political stunt, with warnings over its consequences for the business sector. But, according to the Daily Telegraph, removal of the honours given to Sir Victor and others has the backing of some Tory MPs.

Soon after he resigned from Lloyds, Sir Victor, a former chair of Trinity Mirror news group, was made unpaid adviser on overseas investment to the then Labour government.

Sir Victor, who did not respond to requests for comment, is chairman of the UJS Hillel board and is a long-standing member of the Jewish Leadership Council.