RBS lost the most; Madoff asks for 12 years - papers

According to The Guardian, the Banker's Top 1,000 annual survey reveals that RBS's pre-tax operating loss of $59.3bn (£36bn) puts it way out in front of Citigroup, which was second with losses of $53bn. The survey by the Banker magazine revealed the geopolitical power shift among the world's financial institutions. While banks from the UK, Germany and the United States all featured among the 10 biggest losses, the two most profitable banks were Chinese and four banks from China were in the top 10. The world's most profitable bank last year was the Industrial and Commercial Bank of China...