RBS Plans to Cut Costs by $2.5 Billion as Losses Mount

The transcript discusses the ongoing financial struggles of a bank, forecasting another year of losses, marking a decade of unprofitability. The bank is deepening its cost-cutting measures, which may lead to job cuts, and faces significant litigation charges. The bank's financial performance is compared to Citigroup, highlighting its challenges. The sentiment around the bank remains negative due to its taxpayer-owned status and misconduct issues, affecting the entire industry. The outlook remains uncertain, with no immediate resolution in sight.

Why is the public sentiment towards UK banks affected by RBS's situation?

What implications does the lack of profitability and dividends have for RBS?