You
couldn't make this up, could you?
Hilariously,
according to the Royal Bank of Scotland (RBS) annual report
2007, The Banker magazine made them Global Bank of the Year
2007.
(Above
is an image taken from the RBS annual report 2007 - apparently
this is on page 04 of the printed report, but it's page
6 if you download the pdf from their investor relations
site.)
We
couldn't find a reference to the 2007 award on The Banker's
website when we looked this morning.
A
search in Google suggests that Credit Suisse may have got
the award. Huh?
We
have emailed the editor in chief of The Banker magazine,
Stephen Timewell, and editor of The Banker, Brian Caplen,
for a comment. At the time of writing they haven't replied.
RBS
today announced the largest loss in British corporate history,
but even the size of the loss is disputed. The BBC is reporting
RBS lost £24.1bn, but the Telegraph says the amount
is neared £40bn, which is the pre tax loss.
It
is reported that ex-CEO of the failed bank Sir Fred Goodwin,
50, continues to draw his £650,000 a year pension.
(At
the exchange rate $1.45 to £1, £40bn is $58bn,
£24.1bn is $35bn, £650,000 is $942,000).
-x-x-x-
Update:
10:52 GMT: Ha Ha... Just received a reply to our email of
earlier today to Brian Caplen, editor of The Banker, the
email read:
