Speaking at the bank’s annual general meeting, Hampton was quoted by the Wall Street Journal as saying that the expenditure will be in addition to the bank’s £2bn spent on IT each year.
"Building and maintaining a top class infrastructure is fundamental," Hampton added.
The extra spending is in response to a series of computer issues that occurred in June and July 2012, which prevented the bank’s customers to access cash from ATMs or carry out payments using cards.
An investigation into the IT failures is currently being conducted by the UK Financial Conduct Authority, which could result into a huge penalty, while the 81%-government-owned bank is internally reviewing to find out the root-cause of breakdown.
About £175m has been set as compensation by RBS to pay consumers affected by the glitch.
