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| RBS chief executive Ross McEwan resigns | RBS chief executive Ross McEwan resigns |
| (32 minutes later) | |
| The chief executive of RBS, Ross McEwan, has resigned after five and a half years in the post. | The chief executive of RBS, Ross McEwan, has resigned after five and a half years in the post. |
| Mr McEwan said that he had "delivered the strategy" that he set out when taking over in 2013. | Mr McEwan said that he had "delivered the strategy" that he set out when taking over in 2013. |
| Under his leadership the bank, which is 62% government-owned, has closed hundreds of branches, but last year reported a profit of £1.62bn, more than double the profit of the previous year. | |
| He will remain in the role until a successor has been appointed. | He will remain in the role until a successor has been appointed. |
| "It is never easy to leave somewhere like RBS. However with much of the restructuring done and the bank on a strong and profitable footing, I have delivered the strategy that I set out in 2013 and now feels like the right time for me to step aside and for a new chief executive to lead the bank," Mr McEwan said in statement. | "It is never easy to leave somewhere like RBS. However with much of the restructuring done and the bank on a strong and profitable footing, I have delivered the strategy that I set out in 2013 and now feels like the right time for me to step aside and for a new chief executive to lead the bank," Mr McEwan said in statement. |
| When Mr McEwan took over in 2013, RBS was loss-making and had businesses in 30 countries. | |
| His strategy was to reduce the size of the bank, by withdrawing from overseas markets. Last year the bank had operations in 12 countries. | |
| He also cut costs at the UK banking business, which includes Natwest, by closing branches. | |
| In 2014 the bank employed 109,000 staff, by the end of last year that was down to 67,100. | |
| After nine years of losses, RBS returned to profit in 2017 and started paying dividends again last year. |