RBS announces £5bn pre-tax losses
28 February 2013 Last updated at 15:14 GMT
Royal Bank of Scotland has reported its fifth annual loss since it was rescued by the taxpayer.
The company says it has had a chastening year and has had to put right mistakes of the past, with some losses relating to the Libor rate-rigging scandal and the mis-selling of payment protection insurance.
The bank, which is 82% owned by the taxpayer, has not made a profit since the height of the financial crisis in 2008.
BBC Scotland's business correspondent David Henderson reports.