RBS and Lloyds to maintain cap on cash bonuses

18th Feb 2015 14:51

Cash bonuses at Royal Bank of Scotland and Lloyds Banking Group will remain restricted to £2,000.According to sources cited by Sky News, the two British lenders will keep the government-imposed cap on cash bonuses, which has been in place since 2010, though the Treasury is yet to officially confirm the rumours.Labour has called for bankers' bonuses to be deferred for at least a decade and both banks are likely to come under intense scrutiny in the lead up to the general election, after the government was forced to spend £65.5bn to bail out the two lenders during the financial crisis.As of 15:04 on Wednesday, RBS shares were up 2.20% to 395.00p, while Lloyds shares were up 0.62% to 77.