Royal Bank of Scotland unveiled a £7 billion loss for 2016 today, its

ninth consecutive year in the red, as chief executive Ross McEwan

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admitted that it would be 2018 before the majority taxpayer owned bank would be back in headline profit. It came as McEwan said he planned to take another £750 million of costs out of the bank in 2017 that would involve a further unspecified number of job cuts, as part of a wider £2bn costcutting exercise involving people, property and technology over the next four years.




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