[William - www.stock.adobe.com]
Lloyds Bank (LLOY) on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.
Pre-tax earnings at the lender for the year to December 31 were £7.5bn, although profits in the fourth quarter slipped 4% due to mortgage pricing and deposit mix headwinds. Net income rose 3% to £17.9bn.
Lloyds net interest margin - the difference between what it charges for loans and pays out on savings - rose 17 basis points to 3.11%.
The full-year dividend was lifted 15% to 2.76p a share.
Reporting by Frank Prenesti for Sharecast.com