The group said growth had been achieved by all its operations.

The group said it continued to lend through the downturn, to increase significantly its retail banking customer base and to deliver a marked improvement in its investment banking division.

And it says that despite the weak economic environment, it has taken a counter-cyclical approach and invested across the group.

Earnings per share rose sixfold to 23.4p and the dividend per share is up 1p to 22p.

The group said its capital, liquidity and balance sheet remain strong.

Story provided by Business Financial Newswire