Bailed-Out RBS Offers Staff ‘Outrageous’ Bonuses Despite £3.5 Bn Losses In 2014 – 26 February 2015

RT logoRoyal Bank of Scotland (RBS) chief executive Ross McEwan has conceded the 80 percent state-owned bank will pay staff lucrative bonuses from a pool of £421 million, despite the fact it faced losses of £3.5 billion in 2014.

McEwan took control of the scandal-ridden bank in 2012 after it became insolvent and received a £45 billion bailout at UK taxpayers’ expense.

The RBS chief told BBC Radio 4 he would not be taking a £1 million bonus this year. 2015 marks the second year he has declined to accept the annual financial reward.

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