Royal Bank of Scotland (RBS) has reported a pre-tax loss of £5.17 billion for 2012.
This compares to a loss of £766 million in 2011.
It is the fifth annual loss since it was bailed out in 2008. It is currently 81% owned by the taxpayer.
Stephen Hester, RBS’s group chief executive, said that the bank was four years into its recovery plan and is now a “much smaller, more focused and stronger bank”.
He added: “We are determined that it will show a leading UK bank striving to be a really good bank. By serving customers well RBS can become one of the most respected, valued and stable of banks. That is our goal.
“2012 saw landmark achievements for RBS. It was also a chastening year. Along with the rest of the banking industry we faced significant reputational challenges as we worked with regulators to put right past mistakes. We are determined to overcome the cultural and reputational baggage of pre-crisis times with the same focus we have applied to the financial clean-up from that era.”