RBS Shares Plunge By 7% on £8.2bn Loss and £576m Banker Bonuses
RBS Shares Plunge By 7% on £8.2bn Loss and £576m Banker BonusesReuters

The Royal Bank of Scotland's shares have plunged by nearly 7% on the market open after the part-nationalised lender reported a £8.2bn loss for 2013.

The RBS stock price fell to just over 330p while analysts at Morgan Stanley downgraded the target price to 300p from 323p.

RBS received a taxpayer funded £45bn (€54bn, $73bn) bailout in 2008, which eventually led it to be 81% owned by the government.

2013 Results Summary

Pre-tax loss: £8.2bn

Regulatory and redress provisions: £3.8bn

Retail & Commercial: Down 4% to £4bn

Markets division: Down 58% to £638m

Non-Core losses: Down 27% to £2.1bn