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Bank claim: RBS bonus topped £600m

Royal Bank of Scotland (RBS) revealed that it paid out over £600 million in bonuses last year.

The partly state owned bank revealed details of its bonus pool, including that £215 million was paid to investment bankers.

It says that these bonuses would have been higher, however they had to be clawed back when RBS was fined £390 million after it was found to have been involved in Libor rigging.

News of these banker bonuses came out on the same day that it was revealed that the bank had lost around £5.2 billion before tax last year.

RBS says its losses were partly due to payouts for mis-sold payment protection insurance (PPI) and due to its Libor fine.

The revelation of bonuses at RBS, coupled with the pay outs that the bank has had to make for failing to follow regulations, has enraged campaigners.

The campaign group Move Your Money said: “Why should ordinary customers and taxpayers pay for RBS’ bonuses.”

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801549257-ADNFCR

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