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| Version 5 | Version 6 |
|---|---|
| RBS reports £3.6bn loss for 2009 | RBS reports £3.6bn loss for 2009 |
| (30 minutes later) | |
| Royal Bank of Scotland (RBS) has announced losses for 2009 of £3.6bn, after struggling with billions of pounds of bad loans. | Royal Bank of Scotland (RBS) has announced losses for 2009 of £3.6bn, after struggling with billions of pounds of bad loans. |
| Despite the losses, the bank is set to announce it will pay bonuses of £1.3bn to its staff. | Despite the losses, the bank is set to announce it will pay bonuses of £1.3bn to its staff. |
| The bank's chief executive, Stephen Hester, however, has said he will not take his own bonus. | The bank's chief executive, Stephen Hester, however, has said he will not take his own bonus. |
| The UK taxpayer owns 84% of RBS after the government bailed out the bank at the end of 2008. | The UK taxpayer owns 84% of RBS after the government bailed out the bank at the end of 2008. |
| Mr Hester told BBC Radio 4's Today programme RBS had lost out by not paying bigger bonuses. | Mr Hester told BBC Radio 4's Today programme RBS had lost out by not paying bigger bonuses. |
| "We've had a small experiment in this respect... some of our best-performing people have been leaving in their thousands," he said. | "We've had a small experiment in this respect... some of our best-performing people have been leaving in their thousands," he said. |
| "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." | "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." |
| RBS was fulfilling both the letter and the spirit of its lending commitments, Mr Hester added. | |
| It had exceeded its lending target for homebuyers, but had not reached that for small business, which had focused on repaying existing debt, he said. | |
| RBS lost £24bn in 2008, and many experts had been expecting losses of £5bn for 2009. | |
| Bad debts rose to just below £13.9bn from £7.4bn in 2008 - but the bank believes these have now peaked, and Mr Hester said he expected RBS to return to profit next year. | |
| RBS is the second major UK bank to report 2009 results, after Barclays announced record profits of £11.6bn. | RBS is the second major UK bank to report 2009 results, after Barclays announced record profits of £11.6bn. |
| Lloyds Bank will report its results this Friday. | Lloyds Bank will report its results this Friday. |
| What is your reaction to the RBS results and the planned bonuses? You can send us your views using the form below. | What is your reaction to the RBS results and the planned bonuses? You can send us your views using the form below. |
| A selection of your comments may be published, displaying your name and location unless you state otherwise in the box below. | A selection of your comments may be published, displaying your name and location unless you state otherwise in the box below. |
| The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions | The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions |