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Bonus Watch '16: British Banks

HSBC takes the lead, while RBS defies the odds by having any money at all to distribute.
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Four of Britain's biggest banks will award nearly £5billion in bonuses over the next few weeks despite increasing concerns about the country's economic growth. Barclays, HSBC, Lloyds Banking Group and the Royal Bank of Scotland (RBS) are currently discussing bonus plans as they gear up to announce their annual results. A Sky News report revealed that HSBC is likely to have the biggest bonus pot, awarding staff nearly £2.5bn. This will be down from £2.56bn in 2014. Barclays is planning approximately £1.75bn in bonuses while Lloyds is reported to be offering £350m. RBS will offer slightly more at £400m, it has been said, despite the fact it will announce its ninth consecutive year of annual loss at the end of the month. [DM]


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