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: 'We'll do our best to return taxpayers money'

Chairman of the Royal Bank of Scotland, Sir Philip Hampton has promised the bank will do its "best" to return the taxpayers money.

This morning it was announced that the Royal Bank of Scotland has lost £5.16 billion, giving them a fifth consecutive annual loss.

Sir Philip added that the bank has been in a "mess" for a while, and despite this difficult year, they are on the road to recovery.

He said: "Our job is to put the bank fully back on its feet."

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