RBS vulnerability was 'no secret'

Nov 25 2009

Problems at the Royal Bank of Scotland were "obvious to all" before the financial crisis took hold, the group's chief executive has said.

Stephen Hester, who took over from former boss Sir Fred Goodwin after the banking crash, said the RBS balance sheet was "too big and too vulnerable".

Mr Hester appeared before MSPs at Holyrood in an investigation into the banking sector.