Bailed out RBS shuts three care homes to save £1.3m... but boss who earns FIVE times as much won't take pay cut.

The Royal Bank of Scotland has been criticised over plans to close all three of its charitable care homes – just months after its chief executive pocketed a £7.7 million pay package.

The bank, which was bailed out with more than £40 billion of taxpayers’ money during the financial crisis, says the homes ran up total losses of £1.3 million in the last financial year.

RBS also claims the homes are under-occupied and that the properties are no longer suitable.

But staff have warned that the trauma of moving could kill some of the 40 frail residents, the eldest of whom is 105. More...

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