Lloyds Bank back to Profits

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The 33% government owned bank has reported a pre-tax profit of £415m.

Shares in the group have rose 70% over the last 12 months. Chief Executive Antonio Horta-Osorio will accept a 5-year deferred £1.7m share bonus for 2013 on the back of his performance. An overall staff bonus pool worth £395m is also to be distributed.

The bank has returned to a ‘normal’ bank after 5 long years and it is expected that a further sale of the Treasury’s holdings in the group will be made over the coming months.