Friday, February 25, 2011

RBS Bankers Get £950 Million in Bonuses Despite £1.1 Billion Loss

More than 100 bankers at Royal Bank of Scotland were paid more than £1m last year and total bonus payouts reached nearly £1bn – even though the bailed-out bank reported losses of £1.1bn for 2010.

The chairman, Sir Philip Hampton, said the number of millionaires was lower than a year ago and said a quarter of the group's 18,700 investment bankers would not receive a bonus from the £950m payout pool agreed with UK Financial Investments, which controls the taxpayer's 83% stake in the bank. Unions were baffled that any bankers were getting bonuses.'


1 comment:

  1. Well, I personally find this interesting.

    Why can't they pay back the Government the bail-out money they received with these so called bonuses. Aren't these fat greedy cats paid enough?

    Besides, RBS is not an impressive bank, allowing criminals and their own internal staff to steal company cheques off their premises. Their security appears to be very lax indeed.


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