Bonus Watch '14: RBS

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Employees of the royalest bank in the UK should expect lower bonuses for 2013, but they will have the opportunity to serve tea and haul feta for customers free of charge, so things even out.

Royal Bank of Scotland has received approval from Treasury agency UK Financial Investments to pay about 550 million pounds ($920 million) in staff bonuses for 2013, Sky News reported late on Tuesday. The news service said the bank is expected to disclose the proposed bonuses when it announces its annual earnings, estimated at a loss of about 8 billion pounds...The partially nationalized bank is expected to have reduced the 2013 bonus pool by at least 25 million pounds under a commitment it gave 12 months ago to reduce bonuses in subsequent years, Sky said.

RBS to pay $920 million in bonuses for 2013: Sky News [Reuters]

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