More losses at Egg

Egg Banking Plc's accounts recently filed at Companies House do not make happy reading. Losses for 2009 amount to £211 million with an additional tax charge of £50 million. Four years ago Egg's total assets were £11 billion, at the end of 2009 they were £5.8 billion. Advances at the end of 2005 were £7+ billion, 2006 £6+ billion, 2007 £5+ billion, 2008 £4+ billion and 2009 £3+ billion. At this rate by the end of 2012 it won't be lending anything! No wonder the bank's up for sale!

Most overpaid director II

At least Rothchild's is profitable. Looking at the 24 £1,000,000+ highest paid directors, one director at Royal Bank of Canada Europe Ltd received pay of £2,516,759 in the year ended 31st October 2007, putting him 10th in the Remuneration of Highest Paid Director League Table despite the bank making a loss! In the previous year the highest paid director at Royal Bank of Canada received a lesser remuneration despite making a profit of £29,648,000. So, profit turns into a huge loss and the highest paid director gets a pay rise! A loss for the year of £81,638,000 puts Royal Bank of Canada at 154th in the Pre-Tax Profit League Table in front of only Egg Banking Plc and Northern Rock Plc.