Bank chief pockets wages of £3.5m

The chief executive of Royal Bank of Scotland, which last week reported the highest profits ever made by a UK bank, is understood to have been paid £3.5m (€5.15m) in 2003, it was reported today.

Fred Goodwin’s salary for the year, details of which have not yet been published, is thought to be nearly £1m (€1.47m) more than the £2.58m (€3.79m) he received in 2002.