Advertisement

  1. National

RBS boss 'nearly quit' over bonus

The chief executive of Royal Bank of Scotland Stephen Hester has told ITV News he was "within inches of quitting" during row over his bonus. He also told sixth formers at a school in Streatham in south London that "life is not about money."

View all 15 updates ›

Hester: 'RBS should never have got into a position where they needed state support'

A sixth former has asked the chief executive of Royal Bank of Scotland if the £45 billion used to bail out RBS, which could have gone on healthcare is worth it.

Stephen Hester replied:

As the bank strengthens and improves, British taxpayers will make money out of us.

But if that is not enough of an answer, my view is that banks like RBS should never have got into the position where they needed state support.

The world banking system is under reform.

[It is] incredibly important that we not only recover RBS and free up money, but change the system.

There are better things to do with money than sitting it in RBS, it should be owned by private taxpayers"

– Stephen Hester, Chief Executive of Royal Bank of Scotland
  1. Read more
  2. 15 updates
RBS boss 'nearly quit' over bonus

More on this story