Royal Bank of Scotland said Friday it has withdrawn a planned pay resolution at its annual shareholder meeting after the UK government said it would vote against the move.

The 81% government-owned bank had wanted to set variable remuneration up to 200% of fixed pay, or two-for-one ratio, in line with some of its competitors.

Bank has withdrawn a planned pay resolution after the UK government said it would vote against the move

Ian Walker, The Wall Street Journal

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