RBS 2012 net loss almost triples to £5.97B; to float Citizens.

RBS's (RBS) 2012 net loss widened £5.97B from £2B in 2011, while revenue slipped 6.3% to £25.79B. The loss was due to a £4.6B accounting charge for changes in the value of RBS's own credit, a $1.1B charge for the mis-selling of products, and £381M for the bank's Libor fine. As expected, RBS unveiled plans to partially float its Citizens U.S. unit in two years and to scale down its investment bank. Shares were -3.85% premarket.