RBS

The Royal Bank of Scotland is set to record losses of up to £28bn for 2008 as the Government announces plans to take its stake in the ailing institution to about 70%.

More of the world's largest banks have today admitted exposure to a fraud estimated to have lost more than $50bn.

Royal Bank of Scotland (RBS) is pledging not to start repossession proceedings for a full six months after a customer first falls into arrears.

The Government will own nearly 58% of embattled banking giant RBS after existing investors shunned its £15bn rights issue.

Royal Bank of Scotland (RBS), the struggling bank, is preparing to axe up to 3,000 staff across its worldwide workforce as it braces itself against the onslaught of the global recession, The Times reports.

HBOS received unwelcome press attention at the weekend as a Sunday paper caught 302 mortgage staff and 68 guests celebrating a "successful year" with a £330,000 five-star bash.

Stephen Hester, the new boss parachuted into Royal Bank of Scotland, has been hired on a salary of £1.2m and been awarded shares worth more than £6m to overhaul the bank, The Guardian reports.

The Royal Bank of Scotland today vowed to restore its tattered reputation as the bank unveiled its £19.7bn capital injection plan and announced 2008 write-downs have tipped over £6bn.

Royal Bank of Scotland (RBS) threw a £150,000 party for staff just days after receiving £20bn of taxpayer cash.

RBS chief executive Sir Fred Goodwin has this morning resigned as boss of the beleaguered banking group.