Anger over RBS bonuses
Thursday February 23 2012
Taxpayer-backed Royal Bank of Scotland remained at the heart of the row over bankers' pay today as it unveiled total losses of £2 billion for 2011 at the same time as paying £785 million in bonuses to its staff.RBS, which is 82% state-owned after receiving a £45.5 billion bailout at the height of the financial crisis, said the bonus pool included £390 million for its 17,000 investment bankers.While the total pot is 43% lower than the previous year, it follows a period in which the bank announced thousands of job cuts as it scales back its investment arm Global Banking and Markets.
