Losses at RBS and Lloyds highlight hamstrung government owners
While Lloyds has an operating profit of £2.7 billion, losses from mis-selling of payment protection insurance, new writedowns on loans made by HBOS and restructuring costs mean the bank will suffer a loss of £3.5 billion. This would normally be just another bad bank story, but the visibility surrounding Lloyds and RBS which demonstrates similar losses serves to highlight the payment of bonuses yet again. £4bn losses for bailed-out banks | Sunday Times Nonetheless, he is due to receive shares worth about £660,000 that were awarded as part of the £2m bonus he was handed for his 2010 performance. Senior … Continue reading Losses at RBS and Lloyds highlight hamstrung government owners
