Its annual bonus awards were slipped out after the Budget and included details of £6m in awards paid out from declarations in previous years.

The payments to executives is down from £17.4m last year

RBS reported last month reported its ninth consecutive year of losses, although the underlying bank is in more robust shape.

Bonuses awarded this year will not pay out before 2020. Chris Marks, the head of the investment banking operation, NatWest Markets, was awarded shares of more than £2m.

Alison Rose, who runs the commercial bank, receives £1.8m and Les Matheson, the head of the high street banking business, £1.2m.

Chief executive Ross McEwan (pictured), earned a pay packet of £3m last year and was awarded nearly £3m in shares, receivable from 2021.