Royal Bank of Scotland said Monday it expects its losses for last year could grow to 28 billion pounds or $41.3 billion, the biggest loss registered in U.K.'s corporate history.
U.K. Prime Minister Gordon Brown accused the bank today of taking irresponsible risks on mortgage-related securities in the United States and the takeover of Dutch bank ABN Amro.
The bank said profits of its retail and commercial units in the U.K. had been covered by larger losses in its global banking and its markets division.
This is the largest full-year loss ever registered by a British corporation. It surpasses a 15 billion pounds loss in 2006 reported by Vodafone.
Also on Monday, the U.K. government increased its stake in RBS from 58 percent to almost 70 percent.