London---State-rescued Royal Bank of Scotland on Thursday reported a massive net loss for 2014, caused by a writedown on its US operations.
RBS, about 80-percent owned by the British government after a 2008 bailout, said losses after tax totalled £3.47 billion ($5.40 billion, 4.74 billion euros) in 2014 following a £4.0 billion writedown on Citizens, part of its US operations.
AFP
