RBS shares slide 9% as bank reports £2bn 2015 loss

FTSE remains resilient

Shares in the Royal Bank of Scotland have fallen 9% this morning, after the bank reported a £2bn loss for 2015, but the FTSE 100 index as a whole has continued to climb.

Shares in the bank, which is 73% owned by taxpayers, plummeted this morning to trade 9.1% lower at 222p by 9.36am, after it reported its eighth consecutive annual loss. Investors were not calmed by the fact the latest figure is an improvement on the £3.5bn loss made the previous year. In its latest results the bank confirmed it had made provisions of £3.6bn for conduct charges, including £2.1bn to cover legal action in the US, as well as £600m for payment protection insurance. Meanwhile, restructuring costs for the year amounted to nearly £3bn. RBS and Standard Chartered 'weakest' ...