RBS to pay $920 mln in bonuses for 2013

Royal Bank of Scotland has accustomed approval from Treasury bureau UK Banking Investments to pay about 550 actor pounds in agents bonuses for 2013, Sky Account appear backward on Tuesday.

The account account said the coffer is accepted to acknowledge the proposed bonuses back it announces its anniversary earnings, estimated at a accident of about 8 billion pounds.

The bank’s Chief Executive Officer, Ross McEwan, is additionally accepted on Thursday to bare a cardinal analysis of its advance cyberbanking and all-embracing operations in which the accumulation could afford up to a division of its 120,000-member workforce, according to sources who batten to Reuters.

The partially nationalised coffer is accepted to accept bargain the 2013 benefit basin by at atomic 25 actor pounds beneath a charge it gave 12 months ago to abate bonuses in consecutive years, Sky said.

RBS to pay $920 mln in bonuses for 2013

British Prime Minister David Cameron aftermost ages promised that the government would use its veto ability as an 81% actor in RBS to block any acceleration in all-embracing pay at RBS’s advance bank.

Bankers’ pay leapt into British political focus advanced of the anniversary banking area benefit season, back the action Labour affair alleged on the government to block any attack by RBS to pay its top agents bonuses account alert their salary.

Under fresh European Union rules – which are actuality challenged by Britain in EU’s top cloister – broker bonuses can be no college than an individual’s anchored salary, ascent to bifold that akin if actor approval is obtained.

Bonus payments abide a acute affair as abounding Britons still accusation banks for the 2008 banking crisis, afterwards which the accompaniment was affected to bond out RBS and Lloyds .

Earlier this ages Barclays prompted an affronted acknowledgment from politicians and labour unions afterwards it added its bonuses by 13% to 2.4 billion pounds, alike as it appear affairs to axe 12,000 jobs.

RBS and UKFI could not be accomplished for animadversion alfresco of accustomed business hours.