RBS chief: Worsening economy will hit our results

Speaking at a JOHCM investor conference, Hester said RBS is "probably the world's largest restructuring story in balance sheet terms" and although it is halfway through its five-year plan, it is likely to take slightly longer than initially planned. "If the existing economic environment turns out worse than we hoped, it will hit our results - it will disappoint, as it will all banks, in terms of profit recovery. "Regulation may also have an impact as it may require another leg of restructuring." Last week a UK government source told the FT Whitehall is concerned RBS will need a fur...