This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8534694.stm
The article has changed 36 times. There is an RSS feed of changes available.
Previous version
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
Next version
| Version 7 | Version 8 |
|---|---|
| RBS reports £3.6bn loss for 2009 | RBS reports £3.6bn loss for 2009 |
| (9 minutes later) | |
| Royal Bank of Scotland (RBS) has announced losses for 2009 of £3.6bn ($5.5bn), after struggling with billions of pounds of bad loans. | Royal Bank of Scotland (RBS) has announced losses for 2009 of £3.6bn ($5.5bn), 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." |
| Under fire | Under fire |
| One other controversial topic for the banks has been its role in lending to business and home buyers. | One other controversial topic for the banks has been its role in lending to business and home buyers. |
| ROYAL BANK OF SCOTLAND GROUPLast updated: 25 Feb 2010, 09:11 UK *Chart shows local time pricechange%38.50p+2.37+6.56 More share price data here | |
| Mr Hester again defended the bank's approach. He said he was satisfied that RBS was fulfilling both the letter and the spirit of its lending commitments, saying it had beaten its target for mortgage lending. | Mr Hester again defended the bank's approach. He said he was satisfied that RBS was fulfilling both the letter and the spirit of its lending commitments, saying it had beaten its target for mortgage lending. |
| He said the bank had not, however, reached its target for small business lending, partly because businesses, he said, were focused on paying off debt. | He said the bank had not, however, reached its target for small business lending, partly because businesses, he said, were focused on paying off debt. |
| Bad debts rise | Bad debts rise |
| The loss figure is lower than the £5bn many experts were expecting and is well below the £24bn it lost in 2008. | The loss figure is lower than the £5bn many experts were expecting and is well below the £24bn it lost in 2008. |
| Bad debts rose sharply to just short of £13.9bn from £7.4bn in 2008, but the bank says it thinks these have now peaked. | Bad debts rose sharply to just short of £13.9bn from £7.4bn in 2008, but the bank says it thinks these have now peaked. |
| Mr Hester said he expected the bank to return to profit next year. | Mr Hester said he expected the bank 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 |