Royal Bank of Scotland posts 2013 net loss of £8.995bn

Britain's state-rescued Royal Bank of Scotland plunged deeper into a net loss of almost £9.0 billion last year on the back of vast accounting charges, it said on Thursday.

Losses after taxation grew to £8.995 billion ($15.0 billion, 10.9 billion euros) in 2013, compared with a shortfall of £6.055 billion in 2012, RBS said in a results statement, adding it expected further inevitable job cuts to arise from ongoing restructuring.