RBS 2013 net loss hits £9.0b
Friday, 28 February 2014
LONDON, Feb 27 (AFP): Britain's state-rescued Royal Bank of Scotland (RBS) plunged into a near £9.0-billion loss last year on vast charges for litigation and the creation of a 'bad bank' division, it said Thursday.
The lender, which is 81-per cent owned by the government after a huge bailout during the global financial crisis, added it would seek to slash its cost base by another £5.3 billion in the coming years and warned of more "inevitable" job cuts.