...and RBS bosses bank £335m in bonuses too
TAXPAYER-rescued Royal Bank of Scotland will dish out £335million of bonuses to staff. The latest windfalls will be announced alongside its annual results this Friday. The expected reward pot is down from £342million in 2017 – and senior RBS staff are said to be annoyed by the cut. RBS, bailed out in the financial crisis when Fred “The Shred” Goodwin was in charge, is still 62% owned by the Government. It is set to announce its second consecutive annual profit since its rescue. RBS chief executive Ross McEwan has overseen the recovery but its share price is still languishing well below the 500p per share paid to save the lender from collapse.
The bank reported a milestone first profit since the bailout last year and has also paid its first dividend since the crisis.