Stephen Hester, chief executive of Royal Bank of Scotland, said on Friday he would waive his bonus this year in the wake of a massive technical glitch that left thousands of customers unable to access their accounts or move their money.

"I don't deserve one and wouldn't take one," Hester said in an interview with British Broadcasting Corporation. His decision was confirmed by RBS, which is 83% owned by the UK government following a government bailout in 2008.