RBS share price: Incentive pay to make up for blocked bonus scheme

Otmane El Rhazi, Monday, April 28: Royal Bank of Scotland (LON:RBS) plans to introduce incentive-based allowances for key employees in an effort to sidestep new EU curbs on bonus payments.

According to media reports, scores of senior staff at the bank — which is 81 percent owned by the British taxpayer following a government bailout in the financial crisis — will receive payments equal to their base salaries. The new fixed allowance system, largely paid in shares over a five-year period, would not carry performance conditions.

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