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PPI Claim News - 2/2/2010

Bank Charges: RBS continue bonus rewards despite public outrage

In the face of public outrage the Royal Bank of Scotland (RBS) has announced it is to continue rewarding its highest performers with big bonus schemes.

Detailed in a letter to investors yesterday, the part taxpayer-owned bank said that it will offer bonuses to its staff in the form of investment shares.

However, a large proportion of these shares could be converted into cash in less than three months if bankers decide to sell them on, according to the Telegraph.

By offering bonuses in the forms of shares, it is believed RBS will be able to escape the supertax on bonuses of over £25,000 as proposed by the chancellor, Alistair Darling.

RBS has admitted that the bonus share scheme is "unlikely to please everyone".

According to the news provider, it urged shareholders to understand that it is a "well-intentioned attempt to reach an acceptable position for most parties".

The announcement comes after analysts attending the Economic Forum in Davos last week claimed that not enough had been achieved by the panel in order to execute any realistic banking reforms.

If you would like to get your payment protection insurance back - PPI Claim from RBS then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19591966-ADNFCR

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