The chief executive of Royal Bank of Scotland received a bonus of almost £1 million last year.

Fred Goodwin picked up £1.9 million in pay and bonuses, including a £990,000 performance bonus, after the bank had an 11 per cent rise in profits to £7.15 billion.

Mr Goodwin, 45, also received shares currently worth £1.3 million from a separate performance-related scheme, bringing his total remuneration for the year to £3.2 million.

On Wednesday rival Barclays revealed its chief executive Matthew Barrett was to double his annual pay package to £3.9 million.

Friday March 26, 2004