How did 'profitable' RBS lose £5.2bn?

Despite reporting an operating profit of £3.5bn Royal Bank of Scotland (RBS) made pre-tax losses of £5.17bn.

Much of the pre-tax loss came from a £4.6bn accounting charge for changes in the value of its own credit, and from setting aside money to cover PPI mis-selling, the mis-selling of interest rate swaps and its fine for attempting to fix Libor.

Analyst Louise Cooper told the BBC's Steph McGovern what the figures mean.

BBC News