RBS bonuses to hit £1.3 billion

Published 08th Feb 2010

Part nationalised Royal Bank of Scotland is to face fresh furore over its bonus payouts as a 1.3 billion pounds bonus pool is likely to be signed off by the Treasury shortly, said the Sunday Times.

This comes despite analysts forecasting a full-year 7 billion pound loss at the bank, which is now 84 percent state-owned.

Talks with the Treasury on bonuses to its investment bankers are expected to conclude within 10 days, ahead of the publication of the bank's 2009 results.

RBS said last month that investors were concerned that a clampdown on bonuses would hamper it ability to retain staff.

Source: ' Sunday Times '

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