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Legal bills drag RBS to £7bn loss

Ongoing legal and conduct pain means ninth consecutive year in the red for the UK bank

Legal bills drag RBS to £7bn loss
Photo: iStockPhoto

Losses at Royal Bank of Scotland widened in 2016 to almost £7 billion, as the UK lender's ongoing legal and conduct pains dragged it to its ninth consecutive year in the red.

In a fourth-quarter and full-year results statement today, the bank, which remains majority owned by the UK government, reported an attributable loss of £6.9 billion, compared with a loss of £1.9 billion in 2015.

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