Shares in Lloyds Bank climbed nearly 2 percent on Wednesday, after posting a 24 percent rise in profit.
The group reported statutory profits before tax of £5.3 billion in 2017, up from £4.2 billion the year before. Its ordinary dividend increased to 3.05 pence, up 20 percent, and underlying profit rose 8 percent to £8.5 billion.
Net income hit £17.5 billion over the 12 month period, with its net interest margin increasing to 2.86 percent.
“2017 has been a landmark year in which the Group has made significant strategic progress and returned to full private ownership,” the company said in statement.
“We have delivered another year of strong financial performance in 2017 with increased profits and returns on both a statutory and underlying basis, strong capital generation and increased capital returns.”
Chief executive Antonio Horta-Osorio also unveiled a further three year plan for the bank, alongside a rise in his pay packet worth around £600,000, bringing the total to £6.42 million.
