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Page last updated at 10:16 GMT, Thursday, 23 February 2012

Hester 'doing a good job' at RBS

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The Royal Bank of Scotland has reported its fourth year of losses since the bank's bailout in 2008.

Michael Fallon, Conservative MP on the Treasury Select Committee, told the Today programme's Evan Davis that as taxpayers hold an 83% of the shares in the bank "we need to get our money back".

Mr Fallon said, however, that Stephen Hester is doing a good job of shrinking the balance sheet and that there is "every prospect" that Royal Bank of Scotland shares will go up in value and taxpayer money will be recouped.

James Barty, senior financial consultant at Policy Exchange, agreed that Stephen Hester has been doing a good job and said that the key thing was to "get the bank back into the private sector" and out of state hands.

He said that by RBS paying their bankers "one of the lowest proportion of bonuses and compensation" reduces ability to hire people to be competitive.


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