Stephen Hester admits it is going to be a long hard slog to resuscitate the Royal Bank of Scotland.

Speaking to journalists this morning he said he doesn't regret taking on what many see as a thankless task.

‘The release of our third quarter results today provides a timely reminder of why we are confident that we can restore RBS to standalone strength whilst serving customers well. Along the way we must also restore strong profitability and sustain a successful commercial spirit at RBS, without which value for all shareholders and a profitable exit for the UK taxpayer is not possible. 

Admittedly, there is a princely sum at the end of his adventure if he manages to reach his goal and return the business to profit and pay back the taxpayer with interest. 

But even he admits the going is tough, the journey ahead is long and drawn out and ultimately the fate of the group lies in the hands of the government and the market.

After Tuesday's news that the bank will be forced to sell businesses it wanted to keep hold of, Hester said he once again has to revisit his forecasts.

The update is due in February.

He says he will do all he can to find ways to offset the risk to earnings but it is clearly going to be a struggle not to revise down forecasts.

RBS shareholders - who have been stung over and over again what with the £12 billion rights issue just six months before the share price collapsed - are a determined lot.

After the misery of the collapse of Northern Rock and Bradford & Bingley et al they understandably want Hester left alone to get on and try and reward their loyalty.

But today's numbers show losses on earlier lending are still piling up - although the rate is flattening off - and demand for new borrowing is weak.

There are some parts of the business that are looking reasonably health. The core businesses made more than a billion pounds of profit. 

Others, though, seem more like a withered limb with little chance of recovery.

And Hester agrees the recent punitive penalties imposed by the commissioner mean the bank's staff is going to struggle to get everything done.

After all, the bank needs to trim staff, trim branches, increase lending, grow profits, restructure and - all the while - prepare the insurance business for flotation and look for buyers for other non-core assets.

With bonuses on hold for all but the most lowly paid, and staff wondering whether it might be time to jump ship, is there just too much to do?

There are signs that Hester isn't the only person who has any faith in the group.

Deposits are growing, mortgage lending is still on the rise and the group's corporate business is doing a fair trade.

Shares are up today after losses this week but remain 40% below highs just shy of 60p earlier this year. They must climb 500% to get back to the 200p level shareholders paid at the time of that £12 billion rights issue.

Can Hester succeed? Are you holding on to your shares or even adding to your holding? Or have you given up the faith and hoping to sell?