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.

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RBS annual figures: What can we expect?

  • The bank could show further improvements with core profits of £6.3 billion, up from £6 billion in 2011
  • Underlying group earnings to rise to £3.5 billion (previously £1.8 billion)
  • Overall increase in core profits would be "underwhelming", a sign of difficulties in increasing corporate and personal lending
  • Investment banking division is likely to show higher profits under boss John Hourican

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