Royal Bank of Scotland Group today posted a third-quarter net loss, as the state-controlled bank continues to reshape its business in an effort to return to profitability and private ownership.

The 81%-government-owned bank recorded a net loss of £1.38bn ($2.23bn), on revenue of £4.86bn. In the same period a year earlier, the bank made a net profit of £1.23bn on revenue of £8.6bn. This year's quarterly figure was hit by a £1.46bn own-debt charge.