Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds (USD 3 billion) but that underlying profits had improved and lending to companies increased 5 percent.
Britain`s two largest retail lenders have agreed to a massive shake-up of the banking sector that will see both sell hundreds of branches and key businesses to appease EU concerns over state aid and competition.
Even as the British economy
continues to reel under financial turmoil, banking major Royal
Bank of Scotland (RBS) is planning to hand out bonuses of up
to five million pound to its employees, a media report says.
Indian arm of RBS-owned ABN Amro Bank saw profit per employee nosediving during 2008-09, unlike other major foreign banks Citibank and Stanchart which manged to maintain profitability despite the impact of global financial crisis.