RBS, Have I read this correctly

[iain m]

Is it me??? RBS just made an announcement of a £5 billion plus annual loss, it could have been less but they have kept a bonus pot of £600 million.  

[XTR2Turbo]

It does on the face of it sound odd but the bonus metrics may have been met even if there were a number of very large structural write downs.

[Rory's Dad]

They pi$$ me off with their over-the-top branding of the six nations.  With its perspective correction, it looks like the players are in front of a notice board.

 

Rory's Dad

[FILFAN]

I always thought a bonus should not be paid without profit.

[Norman Verona]

They did make a profit. They made a trading profit of £3,200,000,000 (that's 3.2.billion).

 

But they then made reserves to bring the accounts into a 5 billion loss.

 

I may be a cynic but I reckon as soon as our shares are sold they will make huge profits the following year. Nothing like looking after your mates.

[SootySport]

About £5 billion of loss was due to their miss selling of PPI products.

On second thoughts, robbing thousands of people of insurance premiums for policies that were either useless or double insuring. Spotted that scam years ago but no one I told understood what I was on about. Perhaps I should have told Norman, I'm sure he would have understood.

[SootySport]

And another thing, I'm with Lloyds Tsb --------------- oh no I'm not they have shifted my account to another bank called TSB Scotland. I get called into my bank every 6 months or so so for an "Account Review" actually the bank uses this time for selling products to me but I sit there and have a go at them for criminal and miss selling behaviour, good old ding dong with the accounts manager sometimes.

I'm intrigued how major high st. banks can get away with their scams, lets see, what have they done to us so far-

Overcharging for going into overdraft,.

Fixing interest rates with IBLR.

Miss selling Mortgage endowments.

Charging yearly subscription for their credit card without informing the customer.

Maybe some others you can come up with, please list them.

[Man On The Clapham Omnibus]

I always thought a bonus should not be paid without profit.

 

 

I always thought a bonus was for exceptional performance. Salary was for doing your job well, and a P45 was for failing to perform to a reasonable standard. But, what do I know...

[FILFAN]

Yes but if there is nothing in the pot to pay the bonus.

They have gladly taken them while the banks went belly up. Maybe they should have saved some in the past

[User0083]

O/T

Filfan, car looks good in pink!

[SootySport]

O/T

Filfan, car looks good in pink!

I'm puzzled by the reason for the pink or has the Mem. Sec. been dabbling there.

[FILFAN]

It's a reminder from the great mem sec battle. Don't show it to mrs c

[User0083]

Check Mrs C's profile... He did it to my car! She really wanted a pink Westfield, then I went on a rolling road session and had it jetted and mapped at 107bhp, so she could drive it. Well, once, not even a mile and it scared her, so remapped and jetted back to 155ish.

[SootySport]

It's a reminder from the great mem sec battle. Don't show it to mrs c

Thought it was that.

[Norman Verona]

They do have the money, the losses are paper reserves. They have plenty of OUR money.

 

Of course they are also avoiding paying tax. I doubt that all the reserves being made will be called on so as I said above as soon as the government sell our shareholding they will re-evaluate the reserves and show huge profits.