Despite loss of 3.6 bn pounds, RBS to give bonuses

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RBS posts loss of 3.6 bn pounds for 2009
London, Feb 25: Despite posting a loss of 3.6 billion pounds for the year 2009, Royal Bank of Scotland (RBS) said that it would be indulging in paying bonuses of 1.3 billion pounds to its staff.

Citing that the bank lost best-talents due to the lack of bonuses, accounting for a financial loss of 1 billion pounds, bank's chief executive, Stephen Hester announced the bank's plans to give bonuses to its staff.

"We've had a small experiment in this respect... some of our best-performing people have been leaving in their thousands," he is quoted as saying a BBC report.

"The people who left us last year, I believe, would have increased our profits by up to a billion pounds beyond the ones that we've got," he added.

Hester, however, will not be taking any bonuses for himself.

OneIndia News

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