Royal Bank of Scotland chief executive Stephen Hester has said 2012 was a "chastening" year for the part-nationalised lender.
RBS recorded pre-tax losses of £5.2 billion last year, a steep rise from £1.2 billion in 2011.
Stephen Hester told the BBC: "I think it is inappropriate for me to have a bonus this year. We have let our customers down.
"That may have arisen from old systems and things that were from before my time, but I think we could reasonably have been expected to have improved things since then and clearly we didn't improve them enough.
"So it wouldn't cross my mind to have a bonus this year."
Stephen Hester, the boss of Royal Bank of Scotland, has just revealed in a radio interview that he will not take his bonus this year due to the IT chaos that left thousands of customers without their money.
He was forced to give up his bonus under enormous political pressure. This time, the Chief Executive of the bank we all own the majority of, has decided to act first.
Chief executive of NatWest owner RBS, Stephen Hester, has apologised for technical hitches which left customers unable to pay bills or access their money.
He said: "On this occasion we have let them down".
One of the most intriguing things Stephen Hester told me today is what he thinks of the Bank of England's programme of printing money.
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The Royal Bank of Scotland chief executive tells me that he was "within inches of quitting" during the row over his bonus.
Mr Hester said that the bonus row may have been a 'catalyst' for shareholder revolts going on now, however, he welcomes shareholders being more active.
He warned against the debate being fixated on pay, rather than how the business can grow and get the economy going.
The chief executive of the Royal Bank of Scotland is currently holding a 'round table' discussion with local businesses in Streatham. Mr Hester tells them: "We may be a big business but we're a business like all of you".
The RBS chief executive Stephen Hester is with Streatham MP and Shadow business secretary Chuka Umunna, as well as local shop owner Bharat Patel in his shop, which was affected by the London riots in 2011.
The RBS boss Stephen Hester meets with Bharat Patel, who has had this shop in Streatham since 1987. Mr Patel's business was damaged in the London riots last year.
