RBS reveals €700m bonuses despite losses

Scandal-hit Royal Bank of Scotland revealed bonuses of £607m (€701m)for staff in 2012 despite plunging deeper into the red with losses of £5.2 billion after a “chastening” year.

The losses widened from £1.2bn (€1.3bn) in 2011 after its £390m (€450m) settlement for Libor rate fixing, while the bank revealed another £1.1bn (€1.2bn) in provisions to cover mis-selling claims.