RBS shares slide after it reveals £3.5bn loss for 2014

Shares in The Royal Bank of Scotland suffered a sharp fall after the bank reported a £3.5bn loss in 2014.

The state-owned bank's shares fell nearly 4% to 388p by early afternoon after it reported a significant loss in 2014 and further plans to cut costs. Year to date, the bank's shares are down 1.7%, though over the past 12 months they have risen 9.5%. Last year, RBS saw profits hit by a £4bn writedown on its US business, Citizens, and further fees relating to foreign exchange investigations and mis-selling. Although the figure was far better than the £9bn loss the bank saw the previous year, RBS is yet to post an annual profit since its troubles began during the financial crisis. C...