Former RBS chief executive Sir Fred Goodwin and former chairman Sir Tom McKillop were grilled alongside former HBOS chief executive Andy Hornby and former chairman Lord Stevenson.
Stevenson said: “We are profoundly and unreservedly sorry at the turn of the events. We are also sorry about the effects it has had on the communities that we serve.”
Hornby said: “I am very sorry for the turn of events that led us here.”
McKillop said: “We are particularly concerned about the anxieties caused on the part of shareholders, staff and indeed customers. I make a full apol- ogy both personally and on the part of the RBS board.”
Goodwin said: “I profoun- dly apologise in full for all the pain and distress that has been caused. This has affected everyone.”
McKillop admitted RBS’s purchase of ABN Amro was a “bad mistake” which contributed heavily to the bank’s problems.