The Royal Bank of Scotland 's management board denied a possible shareholder revolt over executive pay , however , the bank did say that there were difficult times ahead and that there will further cost cuts . The board of Royal Bank of Scotland survived a potential shareholder revolt over executive pay packages yesterday, but warned of continued difficult times ahead as the loss-making bank continues to look to slash costs. Chairman John McEwan added though , at the AGM in Edinburgh , that the heaviest cuts would be over by the end of this year .
The Royal Bank of Scotland 's management board denied a possible shareholder revolt over executive pay , however , the bank did say that there were difficult times ahead and that there will further cost cuts . Chairman John McEwan added though , at the AGM in Edinburgh , that the heaviest cuts would be over by the end of this year .