RBS reports £2bn loss

The bank posted a pre-tax loss of £766m but total losses topped £2bn after various accounting and tax charges were added. It follows a loss of £1.1bn in 2010. Last month RBS chief executive, Stephen Hester, turned down his bonus, worth nearly £1m in shares, after heavy political pressure. But today it said it paid out £785m in bonuses to all its staff, with £390m going to some 17,000 of its investment bankers. RBS is 82% owned by the state after its £45.5bn bailout in 2008 at the height of the financial crisis.