LONDON (AP) - Taxpayer-owned Royal Bank of Scotland has taken a whopping 8.2 billion-pound ($13.7 billion) pre-tax loss for 2013 as it announced a new plan to streamline the bank to make it smaller and safer.

LONDON (AP) Taxpayer-owned Royal Bank of Scotland has taken a whopping 8.2 billion-pound ($13.7 billion) pre-tax loss for 2013 as it announced a new plan to streamline the bank to make it smaller and safer.

New Chief Executive Ross McEwan said RBS will now focus on Britain, signaling a rollback from the global ambitions held before the onset of the financial crisis.

McEwan said Thursday he will revive the bank by making it "smaller, simpler and smarter" and have it shrink from seven divisions to three.

British taxpayers rescued RBS in 2008 with a 45 billion-pound ($71 billion) capital injection after former swash-buckling CEO Fred Goodwin brought the bank to near-collapse with an aggressive global expansion strategy that included the ill-fated purchase of Dutch lender ABN Amro.