Losses of £58bn since the 2008 bailout – how did RBS get here?

Flawed takeover bids, bad lending, and a tower of legal bills have left the Royal Bank of Scotland deep in the red

Sir Howard Davies, chair of Royal Bank of Scotland, described the 7bn loss the bank rang up last year as "stark". But it is just a fraction of the bank's towering total losses of 58bn over the nine years since it was bailed out by the taxpayer. And the bank will rack up even more losses this year.

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