The United Kingdom’s biggest banks are said to be finalising plans for annual bonus payouts in the coming days, ahead of a results season.
According to a report from Sky News, the NatWest Group has informed the Treasury that it wants to hand out more than £200m in staff bonuses for 2020.
NatWest’s bonus pot 2019 was £304m, 2020’s sum is the smallest since the bailout of Royal Bank of Scotland over 12 years ago.
According to City sources, Barclays was finalising plans to award Jes Staley, its chief executive, an annual bonus likely to be between £500,000 and £800,000 on top of his £2.3m in annual fixed pay.
Only Lloyds Banking Group, the UK’s biggest high street lender, will refrain from paying bonuses after announcing in December that it was cancelling them because of the impact of the coronavirus crisis on its financial performance.
Unity News Network (UNN) Staff Writer | To find out more details about our staff, please head to the About Us section on our website.
