RBS confirms £163 billion loan repayment

Royal Bank of Scotland has confirmed that it is to repay the last of the £163 billion in emergency loans it received from the US and UK governments.

The announcement came with its first quarter results. It reported a pre-tax loss of £1.4bn, compared with a loss of £116m in the same period last year.

But it did make an operating profit of £1.2 billion. Much of the loss came from changes in the valuation of RBS's debt.

The bank has also set aside an extra £125m to cover claims for PPI mis-selling.

Ralph Silva, a banking analyst at SRN explained if taxpayers would get any money back.