Royal Bank of Scotland unveiled a £7 billion loss for 2016 today, its
ninth consecutive year in the red, as chief executive Ross McEwan
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.
