£40bn but no bonuses for Loyds and RBS
More bail out cash for two of our biggest banks money pits. But neither bank will pay cash bonuses for 2009 to any staff earning more than £39,000 a year. And board members will defer all their bonus payments for this year until 2012. However, bankers are likely to have the last laugh with higher basic pay and deferred bonuses being paid in shares. The current depressed state of banks’ shares combined with the deferral period might just provide …
More bail out cash for two of our biggest banks money pits. But neither bank will pay cash bonuses for 2009 to any staff earning more than £39,000 a year. And board members will defer all their bonus payments for this year until 2012.
However, bankers are likely to have the last laugh with higher basic pay and deferred bonuses being paid in shares. The current depressed state of banks’ shares combined with the deferral period might just provide a huge ramp over time as the banks (and their share prices) recover dramatically.
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