THE chief executive of Royal Bank of Scotland is hopeful its restructuring can be completed by the end of next year which will allow it to begin looking at dividend payments again.
However, Stephen Hester warned industry-wide scandals – such as Libor-fixing, mis-sold payment protection and accusations of money laundering – would end up costing the bank money.
Speaking at a banking and insurance conference in London he said: "We have to accept that the pendulum has swung, that society has a different attitude and determination to make sure banks behave in a different way and improve their reputation.
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