RBS pensions deficit causes more blushes for bank

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The pension deficit at the group, 84% owned by the taxpayer after it was saved from collapse in the world's biggest bank bailout, is 69% of its market value.

That is higher than any other financial firm in the FTSE 350, according to a report by pension consultant Hymans Robertson.

"It's an extra burden on RBS to recover from the financial crisis," said Clive Fortes, head of corporate consulting at Hymans Robertson.

"Not only does it have to recover its business operations, it also has to recover its pension scheme."