All eyes turned to the Royal Bank of Scotland this week as the 81% taxpayer owned bank delivered a diabolical set of results but still awarded over half a billion pounds in bonuses.

While the subject of bankers' bonuses will always an emotional topic, it was particularly a slap in the face for taxpayers because the lender is still nationalised and continues to shed loads of money.

What makes it worse is that it lost £8.2bn for 2013, has to cut operating expenses by over £5bn, plans to axe thousands of jobs, as well as still sorting out a raft of financial scandals.

Traders were clearly not impressed as shares plummeted on the news.

From mis-selling derivatives and PPI, to allegations of managing businesses into default – RBS has a lot to tackle and could spell out billions more in compensation payouts.