British bank RBS has reported a £3.5bn ($5.4bn) loss for 2014.
It's a smaller loss than the previous year for the bank which had to be bailed out during the financial crisis.
But it's results were hit by a writedown related to the sale of its US business Citizens.
The bank's chief executive says he will not receive a bonus this year - but UK Chancellor George Osborne has written to RBS' new chairman saying he expects no bonuses to be awarded to senior executives.
RBS is still 79 % owned by the UK taxpayer.
Laith Khalaf from stockbrokers Hargreaves Lansdown says RBS was already having a difficult 2015.
IN: "It was...
OUT: ...scandal."
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David Buik of investment bank Panmure Gordon says RBS is making some strides forward.
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OUT: ...long haul."
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