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25/02/2010
RBS Posts Losses
The Royal Bank of Scotland (RBS) made losses of £3.6bn last year, results published today have revealed.
According to the bank, it had experienced billions of pounds worth of bad loans.
However, over £1.3bn of staff bonuses are still expected to be paid out.
RBS boss Stephen Hester defended the decision, revealing some of the bank's top staff had already left over reduced incentives.
The UK Government bailed out RBS last year, providing taxpayers with an 84% stake in the bank.
Mr Hester has declined to take his own bonus.
He said: "We are one year into our five-year turnaround plan and have taken significant steps along the path to recovery.
"RBS is being restructured and run to serve customers well, to be safe and stable and to restore sustainable shareholder value for all. That is our legal duty and it is our intention and desire.
"It is also the only way taxpayers will recover the support they have given us."
He added: "In 2010, we will continue to focus on the recovery factors we can control, while effectively navigating the factors we cannot."
(PR/BMcC)
According to the bank, it had experienced billions of pounds worth of bad loans.
However, over £1.3bn of staff bonuses are still expected to be paid out.
RBS boss Stephen Hester defended the decision, revealing some of the bank's top staff had already left over reduced incentives.
The UK Government bailed out RBS last year, providing taxpayers with an 84% stake in the bank.
Mr Hester has declined to take his own bonus.
He said: "We are one year into our five-year turnaround plan and have taken significant steps along the path to recovery.
"RBS is being restructured and run to serve customers well, to be safe and stable and to restore sustainable shareholder value for all. That is our legal duty and it is our intention and desire.
"It is also the only way taxpayers will recover the support they have given us."
He added: "In 2010, we will continue to focus on the recovery factors we can control, while effectively navigating the factors we cannot."
(PR/BMcC)
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15 January 2014
Chancellor Urged To Block RBS Bonuses
The Royal Bank of Scotland should be stopped from paying bonuses of up to double its bankers annual salary, Labour has said. The chancellor George Osborne has been urged to block an attempt by RBS to use an EU rule that would allow it to pay bonuses up to that limit if agreed by shareholders.
Chancellor Urged To Block RBS Bonuses
The Royal Bank of Scotland should be stopped from paying bonuses of up to double its bankers annual salary, Labour has said. The chancellor George Osborne has been urged to block an attempt by RBS to use an EU rule that would allow it to pay bonuses up to that limit if agreed by shareholders.
13 June 2013
2,000 More Jobs To Be Cut By RBS
Some 2,000 jobs are to go at the Royal Bank of Scotland in the next 18 months, the financial institution has said. Jobs are expected to cut worldwide, but it is not yet known how many will be effected in the UK. The latest round of cuts will be bring the total job loses at the bank to 41,000 since 2008.
2,000 More Jobs To Be Cut By RBS
Some 2,000 jobs are to go at the Royal Bank of Scotland in the next 18 months, the financial institution has said. Jobs are expected to cut worldwide, but it is not yet known how many will be effected in the UK. The latest round of cuts will be bring the total job loses at the bank to 41,000 since 2008.
03 August 2012
RBS Sets Aside £125m For Compensation
Royal Bank of Scotland (RBS) reserved £125m to pay compensation customers affected by the account crisis caused by computer system failure. Account holders at RBS, NatWest and Ulster Bank were unable to use their accounts as normal for weeks on end before the error was fixed last month.
RBS Sets Aside £125m For Compensation
Royal Bank of Scotland (RBS) reserved £125m to pay compensation customers affected by the account crisis caused by computer system failure. Account holders at RBS, NatWest and Ulster Bank were unable to use their accounts as normal for weeks on end before the error was fixed last month.
03 May 2013
RBS 'Could Be Privatised' By Next Year
The chairman of the Royal Bank of Scotland (RBS) has said the bank will be set to return to the private sector next year. Sir Philip Hampton made the comment in a video statement on the bank's website after the institution reported a return to profit for the first three months of the year.
RBS 'Could Be Privatised' By Next Year
The chairman of the Royal Bank of Scotland (RBS) has said the bank will be set to return to the private sector next year. Sir Philip Hampton made the comment in a video statement on the bank's website after the institution reported a return to profit for the first three months of the year.
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