Big bonuses for bankers are being lined up again. And - according to The Financial Times - its state-controlled Royal Bank of Scotland - which is getting ready to open its wallet and award as much as £250 million to employees at its Investment Banking Division.
It’s UK taxpayers who’ll really be paying for all of this though – including a possible £4m share bonus for the head of that division John Hourican, that could be labelled a ‘Golden Goodbye’ because he’s moving on in a few weeks time.
And let’s not forget the sizeable fine of up to £500m that RBS is expected to cough up to bank regulators in America and here in the UK for its part in rigging the interbank lending rate, all for its own gain. We should learn exactly how much RBS gets fined next week.
With some places, like AON insurance brokers letting some of bosses defer their bonuses, we’ll have to wait and see if RBS chiefs decide to think again.
Written and presented by Marverine Cole