Good news on the bonus front – kind of.
Bloomberg News reports that Royal Bank of Scotland is likely to leave its bonus pool little changed this year, according to people with knowledge of the matter, ending a spate of annual declines in payouts dating back to the financial crisis.
A final decision on the discretionary awards hasn’t been made and will be taken in January, one of the people said, declining to be identified because the matter is confidential. Last year, the Edinburgh-based lender cut its compensation pool by 8 percent to 343 million pounds ($458 million), bringing the drop since 2010 to about 75 percent as RBS shrank its investment bank to reduce risk.
In a mark of progress, Britain’s biggest government-owned lender posted stronger-than-expected capital in the third quarter, signaling its potential to resume dividends, while the government plans to restart the sale of its stake by the end of March 2019. The biggest remaining obstacle to recovery is the bank’s settlement of a U.S. mortgage-bond probe.
Hit the link below to access the complete Bloomberg News article: