The UK's two state-owned banks, including the Royal Bank of Scotland, are holding back the entire sector, according to Vince Cable.
The Liberal Democrat Business Secretary desribed them as "lame and crippled". In a strident assessment of the banking system, he also warned there was still much "unfinished business".
RBS was bailed out by the taxpayer to the tune of £46 billion at the height of the banking crisis in 2008. In recent weeks its has come under pressure following the announcement it lost more than £5bn last year.
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