RBS reports £1.13bn annual loss

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Royal Bank of Scotland (RBS) has reported an annual loss of £1.13bn for 2010, improving on the previous year but still falling short of analyst expectations.

Although the bank made an operating profit of £1.91bn, it was particularly hard hit by a £1.11bn tax charge. Forecasts compiled by Bloomberg had estimated it would make a loss of £406.5m. RBS has...

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