RBS boss admits 'shock' over depth of bank's problems

The Royal Bank of Scotland boss has said that the depth of problems at the bank was still coming as a "shock".

Chief Executive of the Royal Bank of Scotland, Ross McEwan. Credit: Andrew Milligan/PA Wire/Press Association Images

Speaking to Radio 4's Today programme chief executive Ross McEwan said: "I think that people, including executives at the bank, did not realise how big a change process we had to go through to get this bank back into shape."It has been a real shock how much time it is taking to turn it round."

Read: Clegg urges RBS to show restraint over bonuses

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Clegg urges RBS to show restraint over bonuses

Deputy Prime Minister Nick Clegg has warned taxpayer-owned Royal Bank of Scotland that it "shouldn't be dishing out ever larger amounts of money in pay and bonuses" as it announced pre-tax losses for 2013 of £8.2bn and a reduced bonus pot of £576m.