Part-nationalised Royal Bank of Scotland has revealed total losses of £2 billion in 2011, compared with £1.1 billion in 2010.

RBS paid employees a total bonus pot of £785 million for 2011, down 43% on the previous year and including a £390 million pool for its 17,000 investment banking staff.

The bank has been at the centre of a row over bankers' pay in recent weeks, which led to chief executive Stephen Hester waiving his £963,000 all-shares bonus.