LONDON: UK state-owned bank RBS has reported a loss of £3.5bn for 2014, down from a £9bn loss the previous year. The results were hit by a £4bn writedown on the sale of its US business, Citizens.
The bank’s chief executive Ross McEwan confirmed he would not receive a bonus this year. But RBS will still pay out bonuses from a pool of £421m, which is some 21% smaller than in 2013.
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