RBS Profit Loss

RBS Profit Loss

The Royal Bank of Scotland’s shares took a hit today after investors showed their disapproval over the bank only making £1.4bn pre tax profits.  A loss when compared with the £1.7bn made the year previous.

This comes as the news of the new RBS boss Mr Ross McEwan who starts in October will receive no bonus this year or next. Mr McEwan is currently the head of the bank’s retail arm and will receive a £1m salary when he takes his new position.

Comment

RBS is a troubled bank and one of the largest banks in the World.  Fines, toxic debt and poor business deals mean that this bank, created the largest corporate losses in UK financial history, will take many years to recover and pass back into private ownership.