By Jonathan Davies
The Royal Bank of Scotland (RBS) has reported a £446 million loss for the first three months of the year.
The taxpayer-owned said the loss comes after it set aside £856m "litigation and conduct charges" and £453m for restructuring costs.
Excluding those large one-off costs, RBS made an operating profit of £325m for the first quarter.
That figure still represents a huge fall from the same period last year when the bank reported a £1.28bn profit.