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RBS losses more than double last year's figure

Credit: Yui Mok / PA

The Royal Bank of Scotland has reported a first quarter pre-tax loss of £968 million - more than double last year's of £446 million.

The loss reflects the impact of its £1.2 billion payment last month to the Treasury to buy out a crucial part of its £45 billion bailout.

The payment ended a dividend access share (DAS) agreement with the Government which was put in place in 2009 and prevented it paying dividends to any shareholders before the Treasury.

The bank said: "RBS remains on track with its plan to build a strong, simple, fair bank for customers and shareholders."

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RBS blame 'cyber attack' for banking glitch

A fault which left RBS and NatWest customers unable to login to their online banking yesterday has been blamed on a 'cyber attack'.

The banking glitch meant customers could not access their online accounts for 50 minutes Credit: Yui Mok/PA

A spokesman for the bank said: "The issues that some customers experienced accessing online banking on Friday was due to a surge in internet traffic deliberately directed at the website.

"This deliberate surge of traffic is commonly known as a distributed denial of service (DDoS) attack. At no time was there any risk to customers."

RBS online banking glitch fixed after disruption

RBS said it was still investigating the cause of the problem. Credit: PA

A fault which left RBS, NatWest and Ulster Bank customers unable to login to their online banking this morning has been fixed, RBS has said.

The cause of the problem, which lasted around 50 minutes, was still being investigated.

We are aware that some customers experienced issues with online banking this morning.

This has now been resolved and our service is operating as normal. We apologise to those customers who experienced difficulties."

– RBS spokesperson

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Banks 'working to restore trust' after Forex scandal

Antony Jenkins, chief executive at Barclays, apologised for the bank's role in the scandal.

The misconduct at the core of these investigations is wholly incompatible with Barclays' purpose and values and we deeply regret that it occurred.

I share the frustration of shareholders and colleagues that some individuals have once more brought our company and industry into disrepute.

– Barclays

RBS has also so far dismissed three staff and a further two are suspended.

The serious misconduct that lies at the heart of today's announcements has no place in the bank that I am building.

Pleading guilty for such wrongdoing is another stark reminder of how badly this bank lost its way and how important it is for us to regain trust.

– Ross McEwan, RBS chief executive

RBS fined £430 million by US authorities in Forex scandal

RBS Credit: Philip Toscano/PA Wire

Royal Bank of Scotland i among five banks hit with fines over involvement in the rigging of global currency markets and has agreed to pay $669 million (£430 million) to US authorities.

It comes on top of a £399 million penalty last November, including £217 million by the FCA and $290 million (£186 million) by the US Commodity Futures Trading Commission (CFTC).

RBS posts £446m loss after currency-rigging probe

RBS has reported a larger-than-expected loss for Q1 Credit: PA

RBS has reported a £446 million loss in Q1 after restructuring and currency-manipulation probes, the state-backed lender has revealed today.

The bank, which is 80% owned by the taxpayer, was hit by restructuring costs of £453 million and £856 million in "litigation and conduct" charges.

Adjusted operating profit, excluding one-off charges, was up 16% to £1.63 billion as the bank benefited from "generally benign credit conditions".

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