RBS reveals fifth annual loss since taxpayer bail-out

Royal Bank of Scotland (RBS) has reported its fifth annual loss since it was rescued by the government in 2008.

The bank made a pre-tax loss of £5.17bn, hit by a series of charges. The year before it lost £766m.

In a statement, the bank said it had been a "chastening" year during which it sought to "put right past mistakes".

Hugh Pym reports.