Treasury nets £977m as RBS profits more than double to £1.6bn
So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.
The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.
My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?
So, RBS are paying almost a billion in dividends to the treasury from one years performance. I think this bank has also paid enforced reduced bonuses recently, and are complaining about the fact that they cannot attract the best talent, however they are still making a profit.
The article linked states that the bank wants the company returned to private hands quicker than was planned, despite the shares being worth less than half of the bailout price per share.
My question is this - Why would the country want to dispose of the shares in the bank if there is going to be an ongoing dividend paid, and more importantly why should the public accept this happening. The bank would have likely went bust without taxpayer support, so why should we bail them out, get back less than our initial bailout and lose potentially billions of ongoing revenue?