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RBS reports £3.6bn loss

City A.M. Reporter
THE Royal Bank of Scotland (RBS) has reported a £3.6bn pre-tax loss for the last financial year.

The loss for the 12 months to December 31 is far below the record £24.3bn loss for 2008.

Its bonus pool has been limited to £1.3bn after receiving billions of pounds in taxpayers' money during the recession to save it from collapse.

The lender is 84 per cent owned by the taxpayer.

Global Banking and Markets, RBS’s investment bank arm, showed an operating profit of £5.7bn compared to a loss of £1.8bn the year before.