The big four UK banks racked up more than £10bn in fines and legal charges during 2016 - but it will prove to be the last year they incur "outsized" penalties, according to ratings agency Standard & Poor's.

The combined bill for conduct and litigation charges at Barclays, HSBC, Lloyds Banking Group and RBS was £10.8bn in 2016, S&P said in a report on June 7.