Jordan Hiscott, Chief Trader at ayondo markets:
“This was an absolute stellar set of earnings, almost the mirror opposite of the HSBC figures yesterday. Lloyds’ full year pre-tax profit came in at £4.2 billion, versus £1.46 billion from the previous year. This was partly down to the bank incurring lower PPI provisions and one-off write-offs, while enjoying arguably their strongest full year performance since the 2008 credit crisis.
“On the back of these fantastic results, not only will the annual dividend be increased, but a special dividend of 0.5p per share will also be paid. In my opinion, these results and special dividend confirm that Lloyds has truly turned a corner. As you would imagine shares are higher today, up 4% to 69.63p, the highest they’ve been since the vote to leave the EU.”