Monday 17 February 2014 12:46 am

Banks pay out allowances

UK BANKS are proceeding with their plans to pay special allowances to staff on top of bonuses, in a move agreed with the UK authorities to circumvent EU rules. The figures from show 34 per cent of British banks have so far paid the allowances – typically quarterly payments, based on a banker’s role in the firm. Most of the payouts are below 10 per cent of salary, but a small handful have seen allowances of 20 to 30 per cent, the salary data site found.