RBS losses "A tale of horror" says financial analyst

Ahead of the RBS results, financial analyst Louise Cooper told BBC 5 live Breakfast the figures will tell a story of "horror, past greed, incompetence and corruption under Sir Fred Goodwin."

In this 90-second summary, the Royal Bank of Scotland has reported its sixth annual loss since it was rescued by the UK government in 2008, with a pre-tax loss of £8.2bn in 2013.

Excluding bad bank and legacy costs, RBS made an operating profit of £2.5bn. RBS' bonus pool is down to £576m, a drop of 15% on last year, when £679m was paid out. Of that sum, £237m will be paid to investment bankers.