RBS announces £5bn losses

The Royal Bank of Scotland has announced losses of £5.16billion - a fifth consecutive annual loss. Chief Executive Stephen Hester described 2012 as a "chastening" year. It was also revealed the bank paid £607m in bonuses in 2012.

Latest ITV News reports

Experts predict more losses for RBS results

As the Royal Bank of Scotland releases its annual figures this morning, experts predict increased bottom-line losses.

Staff bonuses could be high on the agenda Credit: Johnny Green/PA Wire

It is thought that staff bonuses will be high on the agenda of today's announcement, as the bank is set to confirm the size of the pool to be shared among staff.

According to banking analyst Ian Gordon, there could be compensations for mis-selling, which could see RBS fall deeper into the red.

Read: RBS boss gets bonus after Libor

RBS to release annual figures this morning

The Royal Bank of Scotland will report its annual figures this morning, amid amounting pressure for recovery plans, following a year of scandal.

The bank is expected to unveil plans to float its US retail bank Citizens in a deal that could raise more than £8 billion for the lender.

Annual figures released this morning for RBS Credit: Dave Cheskin/PA Wire

RBS has already announced that around £300 million will be taken from its staff bonus pot and taken from previous awards to help pay for its £391 million Libor fines.

The remaining bonus is likely to be much less than the £785 million paid out in 2011.

Read: Government's RBS shares plan

Advertisement

Load more updates