RBS Chief Executive defends bonus payments

RBS Chief Executive defends bonus payments; ENGLAND: London: INT Stephen Hester (RBS Chief Executive) interview SOT - we have to clean up the biggest time bomb of debt ever built on a bank balance sheet - that means realising a lot of losses from the past/ in the last three years we have got rid of 700 billion pounds of bad assets, twice the entire size of the Greek national debt / we have just reporter 6.1 billion pounds of profit from our 'normal' bank - (asked if possible to run a bank without paying bonuses) it's an experiment that I think would fail/ if you deliver results you should be rewared - if you fail then you should get no bonus - (on lending to small businesses) last year we lent to small businesses the same as all the other banks did added together - in excess of the target we were set - (on possibility of previous bonuses being repaid) the entire management team that was responsible for RBS when PPI business was done have gone - it's been personally wrenching and difficult/ we are in the vortex of some really challenging societal, economic and political things/ I've picked myself up, dusted myself off and we're moving forward - I think that's the best answer to looking backwards
RBS Chief Executive defends bonus payments; ENGLAND: London: INT Stephen Hester (RBS Chief Executive) interview SOT - we have to clean up the biggest time bomb of debt ever built on a bank balance sheet - that means realising a lot of losses from the past/ in the last three years we have got rid of 700 billion pounds of bad assets, twice the entire size of the Greek national debt / we have just reporter 6.1 billion pounds of profit from our 'normal' bank - (asked if possible to run a bank without paying bonuses) it's an experiment that I think would fail/ if you deliver results you should be rewared - if you fail then you should get no bonus - (on lending to small businesses) last year we lent to small businesses the same as all the other banks did added together - in excess of the target we were set - (on possibility of previous bonuses being repaid) the entire management team that was responsible for RBS when PPI business was done have gone - it's been personally wrenching and difficult/ we are in the vortex of some really challenging societal, economic and political things/ I've picked myself up, dusted myself off and we're moving forward - I think that's the best answer to looking backwards
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Credit:
ITN
Editorial #:
654382398
Collection:
ITN
Date created:
23 February, 2012
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Rights-ready
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Not released. More information
Clip length:
00:05:16:17
Location:
United Kingdom
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576 25i
Source:
ITN
Object name:
t23021245_0.mov