Group intends to pull out of Ireland, winding down local Ulster Bank operations
NatWest has cut its banker bonus pool to the lowest level since its financial crisis bailout, after swinging to a full-year loss in 2020.
The lender – formerly known as Royal Bank of Scotland – slumped to a loss of £351m for 2020 compared with a profit of £4.2bn a year earlier. The bank was stung by a surge in bad debt provisions, having put aside £3.2bn to cover a potential jump in defaults because of the coronavirus pandemic.
