RBS 'lost more than any other bank'

Jun 24 2009

Part-nationalised Royal Bank of Scotland lost more money than any other bank in the world last year, a leading industry journal has declared.

RBS's overall losses of £36 billion during a disastrous 2008 put it at the top of a list compiled by The Banker magazine, ahead of ailing US giant Citigroup.

The bank is now 70%-owned by the taxpayer and in the process of shedding tens of thousands of jobs.