Lloyds Banking Group, 33% owned by the taxpayer, has returned to profit for the first time since it was bailed out by the government for £20.5bn.
The bank reported a full-year pre-tax profit of £415m – significantly better than the £606m loss it made in 2012.
Chief executive Antonio Horta-Osorio says Lloyds is now a “normal bank”.
He will take a bonus of £1.7m in shares this year, deferred for five years, Sky News reports.
Lloyds’ underlying profits in 2013 increased to £6.2bn, from £2.6bn last year.