|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




News Tag: bank bonuses

November 21, 2012

FSA warns banks over bonuses

by Jan Harris
FSA warns banks over bonuses
Banks have been warned by the financial watchdog that this year’s bonuses should reflect the recent scandals that have rocked the banking industry. According to The Financial Times, Andrew Bailey of the Financial Services Authority wrote to banks’ chief executives in October, saying that bonuses should be forfeited or reduced for those involved in payment protection insurance mis-selling and Libor rate rigging. ...




March 26, 2012

Bank of England calls for culture change in banking

by Jan Harris
Bank of England calls for culture change in banking
Michael Cohrs, a member of the Bank of England’s new financial policy committee (FPC) has warned of the danger of another financial crisis unless the ‘toxic culture’ inside banks is eradicated. Changes should include a reform of banks’ bonus systems, he said. The FPC was established to regulate UK banks, but Mr Cohrs suggested that it should have greater power to ...




February 23, 2012

RBS chief defends bonuses despite £2bn loss

by Jan Harris
RBS chief defends bonuses despite £2bn loss
Royal Bank of Scotland made a loss of nearly £2 billion last year but still paid out £785 million in bonuses to staff, including £390 million to investment bankers. The average bonus per group employee was £5,346, but the bank’s 17,0000 investment bankers received an average bonus of £22,941. Bankers’ bonuses have come under intense scrutiny since the start of the ...




January 30, 2012

Downing Street won’t micro-manage bonuses

by Jan Harris
Downing Street won’t ‘micro-manage bonuses’
Speaking to the BBC after the Royal Bank of Scotland’s chief executive announced his decision to forgo his bonus this year, the government has said that it will not block bonuses to the bank’s other executives. RBS chief executive Stephen Hester was awarded £963,000 in shares but following pressure from public opinion and MPs he decided to follow the example of ...




Lloyds withdraws charity credit cards

by Jan Harris
Lloyds withdraws charity credit cards
Lloyds Banking Group has decided to withdraw Halifax and Bank of Scotland charity credit cards at the end of February because it doesn’t consider them a cost-effective way of donating to charity. The bank has been issuing charity credit cards for over 23 years and they have raised millions of pounds for charities such as Cancer Research UK, the NSPCC and the ...




January 16, 2012

Online banking to become the norm by 2015

by Jan Harris
Online banking to become the norm by 2015
By 2015 bank customers will use digital banking more than they use branches according to ‘The New Digital Tipping Point’ report from PricewaterhouseCoopers. The survey, of 3000 people in nine countries, suggests that customers are willing to pay up to £10 a month for online banking if they receive convenience and added-value services. These could be services such as financial ...




May 20, 2010

Coalition Government to crackdown on unfair bank charges

by Kay Mitchell
”Coalition
The new coalition Government is to introduce measures that will see an end to "unfair" bank charges, as well as excessive interest rates on credit cards. The measures, part of new policies that are being introduced by the Con-Lib Government, comes after a legal battle between the banks and the Office of Fair Trading, which saw the Supreme Court rule ...




October 26, 2009

FTSE 100 bosses see fall in bonuses

by Kay Mitchell
FTSE 100 bosses see fall in bonuses
FTSE 100 chief executives have still received sharp increases in their salaries despite the recession, according to pay analysts, Incomes Data Services (IDS). Over the last 12 months, the top bosses at the top 100 companies saw average salary rises of 7.4% - many times the rate of inflation. However, IDS said bonuses have fallen among the chief executives with average bonus ...




October 21, 2009

UK bank bonuses to rise despite bailouts

by Kay Mitchell
”UK
According to the Centre for Economics and Business Research (CEBR), City bankers will receive an estimated £6 billion in bonuses for this year, compared with £4 billion for 2008. The estimate comes despite public outrage against bonuses after a year of multi-billion pound bailouts within the banking sector. However, the CEBR did point out that this year’s payout is far below ...