Fourth consecutive year of losses in 2011 for the Royal Bank of Scotland which has seen its results worsen in the last year compared to 2010. Liabilities came close to £2 billion (approximately 2,3 billion euro), 44% more than the 1,12 billion in 2010. The negative impact was the devaluation of Greek government bonds which affected many other European lenders.
The bank after going into crisis in 2008 came under public scrutiny following a costly and criticized bailout. The cure does not seem to have had the desired effects, so much so that the prospects for 2012 have been defined as negative by the bank itself. There investment bank division, returning from a very harsh squeeze on employment and bonuses, saw its profits drop by 58%.
