The Royal Bank of Scotland has posted losses of £7bn for 2016.
Restructuring costs included a £750m provision in respect of the group’s remaining State Aid obligation regarding Williams & Glyn.
Total income increased to £12bn compared with £11bn primarily due to an increase in non-interest income. Impairment losses were £529m compared with impairment releases of £838m in 2015.
The results take its losses since it was bailed out by the taxpayer in 2008 to over £58bn.
Gross loans and advances to customers increased by 10% to £133.4bn in 2016 principally driven by mortgage growth. Customer deposit balances increased by £8bn, or 6%, to £145.8bn driven by growth in personal current account balances.
