Shares slide after bailed-out bank reveals eighth consecutive year of losses Royal Bank of Scotland has defended a £3.8m pay deal for its chief executive after reporting a £2bn annual loss and falling into the red for the eighth consecutive year. Shares in the bank slumped as RBS dampened expectations that it will start returning cash to shareholders as soon as the beginning of next year. The shares closed down 7% at 226.6p, below the 502p at which taxpayers shatter even on their 73% stake. Related: RBS revival postponed for another year Related: British bank annual results – interactive Continue reading...
Source: theguardian.com