RBS chief executive Ross McEwan is the latest CEO of a major organisation to warn a no-deal Brexit could tip the UK economy into recession.

He told the BBC a “bad Brexit” could result in “zero or negative” economic growth which would hit RBS’s share price.

The issue is particularly concerning because RBS is still 64% owned by the taxpayer following its bailout ten years ago.

Although the bank’s position has improved in recent years- as revealed in a recent Financial Director interview with the then CFO Ewen Stevenson (who is starting as CFO of HSBC)- RBS is still vulnerable to seismic shocks.