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Friday, 25 April 2014

Pull the other one

RBS reports a pre-tax loss for 2013 of £8,243 million, including regulatory and redress provisions of £3,844 million, and impairments and other losses of £4,823 million related to the establishment of RBS Capital Resolution (RCR).

And yet the directors still thought they needed to get an exemption to pay bonuses of more than 100% of salary. Dream on....

And what happens to the share price when this bonus package, which the directors said was fundamental to their business, is not allowed.

Up slightly, by 0.28%. Seems they could use a new set of directors.