The boss of RBS has admitted the banking sector's reputation has hit new lows as it counted the cost of its own failures.
The bank, which is 80% owned by the tax-payer, has set aside £310 million to deal with the fallout from a technical meltdown and two mis-selling scandals.
Its half-year losses have doubled to £1.5 billion.
Speaking to ITV News Stephen Hester said "It's tough". Asked how it feels to be a banker in 2012, he added:
- The bank said the computer glitch that locked many RBS, NatWest and Ulster Bank customers out of their accounts would cost it £125 million
- The lender warned that the full cost of the failure could rise and a further update would be given in the third quarter
- RBS unveiled £135 million fund to cover the cost of payment protection insurance mis-selling
Stephen Hester waived his bonus in the wake of the IT melt-down. But he insisted RBS had undergone huge change for the better.