KPMG picks up £1m a month from Dunfermline Building Society

Administrators from KPMG are earning a million pounds a month while managing Dunfermline Building Society.

KPMG's team is looking to sell around a £1bn of the society's loan book and bonds, but is currently holding onto them to collect revenue and restructure them, reported the Scotland on Sunday.

Advisers have also claimed £121,000 in expenses.

SNP MEP Alyn Smith said in the report that advisers were making £1m a month while interest rates to businesses were being hiked.

A KPMG spokesman was reported saying that the fee had been approved by the Treasury, and some of its specialists had been brought in from around the UK and were staying in flats rather than hotels to keep down costs.

Further reading:

Treasury eyes up valuer for troubled Dunfermline bank