The Scotsman cartoon: RBS sell-off plans

RBS dodged a full break-up as it revealed plans for the rapid wind-down of £38 billion of toxic loans while slashing costs.

The 81 per cent taxpayer-owned lender avoided a threatened full split into a “good” and “bad” bank as a Government-commissioned report concluded that would do more harm than good.

Chancellor George Osborne admitted the bank, which plunged to £634 million third-quarter losses, is “unlikely” to be sold back to the private sector before the 2015 general election.

Illustration by Brian Adcock

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