RBS 'still has a long way to go' to rehabilitate itself
The Government's decision to block Royal Bank of Scotland's bonus plans makes it abundantly clear the troubled bank still has much to do.
Banks, bonuses and the Big Five
Labour's two-pronged assault on the banking sector is trying to cement a view in voters' minds that the party is on the side of consumers
Still political capital to be made from banks
Labour knows that there is still political capital in going after banks. But a markset share cap is a pretty blunt instrument.
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RBS: Some unknown risks of Scottish independence
The head of the Royal Bank of Scotland has told ITV News there are some unknown risks about Scottish independence.
In its annual report, the bank admitted that such move would be likely to have a "significant" impact on the group's credit rating as well its monetary and regulatory landscape.
RBS chief executive Ross McEwan told ITV News: "We are doing a bit of planning around the 'what ifs' and the 'could be' that could happen."
RBS report highlights fears over Scottish independence
The Royal Bank of Scotland has highlighted the "political risks" posed by Scottish independence to its business, saying it could "significantly" impact the group's credit ratings.
Comments in its annual results also questioned whether the move would affect Scotland's status in the European Union.
– RBS annual reportDuring 2013, the focus on the question of potential Scottish independence from the UK has heightened and the Scottish government will be holding a referendum in September 2014.
A vote in favour of Scottish independence would be likely to significantly impact the Group’s credit ratings and could also impact the fiscal, monetary, legal and regulatory landscape to which the Group is subject.
Were Scotland to become independent, it may also affect Scotland’s status in the EU.
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RBS boss: Bankers' bonus pot a 'highly emotional issue'
Royal Bank of Scotland boss Ross McEwan has admitted that bonuses were a "highly emotional issue", but avoided questions on whether sums could be clawed back from those who underestimated the difficulties.
– RBS chief executive Ross McEwanI understand it is a highly emotional issue to see bonuses paid in which we are still losing money.
The issue for me as a pragmatic executive is that I need to be able to pay what it takes to actually get people to do the job for us.
When you look at RBS, we of all banks have been the one who have been pulling the pay and bonus structures down, but I do need to be in the market to get people to do these jobs.
But he warned that his best staff were constantly being "tapped on the shoulder" by other institutions.
He said: "We do see the turnover of good people and I have got to say they are in demand."
Mr McEwan insisted that "no decisions" had been taken over whether the bank would pay packages that would breach the EU's cap on bonuses of 200% of salary.
RBS boss admits 'shock' over depth of bank's problems
The Royal Bank of Scotland boss has said that the depth of problems at the bank was still coming as a "shock".
Speaking to Radio 4's Today programme chief executive Ross McEwan said: "I think that people, including executives at the bank, did not realise how big a change process we had to go through to get this bank back into shape."It has been a real shock how much time it is taking to turn it round."
Clegg: Loss-making RBS shouldn't give large bonuses
Nick Clegg has told Daybreak a loss-making bank such as the Royal Bank of Scotland "shouldn't be dishing out ever larger amounts in pay and bonuses".
Although the Deputy Prime Minister acknowledged the average amount of bonuses paid out by taxpayer-funded banks has been coming it down, he stressed: "It needs to continue to come down".
Mr Clegg said: "They are entitled to pay their staff what they want when they are standing on their own two feet - at the moment they are not.
"I actually said this to the chairman of NatWest bank recently - as long as you are there because the British public have been generous to keep you in existence, be restrained, be sensible, be responsible".
His comments came as RBS announced annual pre-tax losses of £8.2 billion.
RBS £576m bonus pot down from £679m in 2012
RBS has revealed a staff bonus pot of £576 million, including £237 million for its investment bankers, which is down from a total pot of £679 million in 2012.
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RBS announces changes to 'earn the trust of customers'
The Royal Bank of Scotland has announced it will make five changes to 'earn back the trust' of its customers.
RBS is announcing five changes to begin earning back the trust of its personal and business customers from today (1/6)
1. We will stop offering deals and products to new customers that we are not prepared to offer to our existing customers. (2/6)
3. We will put business bankers back on the high street. We will have hundreds in our branches. (4/6)
RBS reports losses of £8.2bn and £576m in bonuses
The Royal Bank of Scotland has confirmed pre-tax losses of £8.2 billion last year alongside £576m in bonuses in an announcement likely to reignite the row over pay.
RBS, which is 81% owned by the taxpayer, reported a £5.3 billion loss in 2012.
RBS announces mortgage holidays for flood victims
Royal Bank of Scotland will offer three-month mortgage repayment breaks to customers with flooded homes.
Full details, including how to apply for the scheme will be released tomorrow by the group, which includes NatWest.
It said it would also send specialist business support teams to affected areas in coming weeks to help small businesses with short-term financial problems as they carry out repairs and suffer lost trading income.
RBS CEO: Problems from the crisis are still emerging
The chief executive of the Royal Bank of Scotland has said some of the problems and bad decisions from the peak of the financial crisis are only just emerging, following the news the bank is setting aside further capital to cover litigation and customer compensation claims.
The bank's CEO, Ross McEwan said RBS was the "biggest bank in the world at peak of the financial crisis" and the "scale of the bad decisions during that period means that some problems are still just emerging."
McEwan said the bank is stronger now and can manage the costs while still supporting customers.
The bank also confirmed its executive committee would not receive bonuses for their performance in 2013. McEwan has already said he will waive his bonus for 2013 and 2014.
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