Lloyds Banking Group share price rises on FTSE 100

The firm, which is 41 pct owned by the state made an operating loss of £6.3 bn last year.

In its prelimary trading report for the first ten weeks of 2010, the bank said it now expected to write off less in both its retail and corporate businesses.

"Overall, based on the group's current economic and regulatory assumptions which remain unchanged since our recent 2009 preliminary results announcement, the group believes that it will be profitable on a combined businesses basis in 2010," it added.

The FTSE 100 index rose 28.8 points by 8:13, whilst RBS was up 5.92 pct to 44.49 pence.