High-street bank Lloyds TSB enjoyed an 11 per cent rise in pre-tax profits last year.
The group, releasing its 2006 results this morning, revealed its pre-tax profits totalled £4.25 billion with total income net of insurance claims growing by five per cent to £11.1 billion.
The group's insurance and investments sector saw its like-for-like profits before tax grow by 15 per cent.
"I am delighted to report that the group has delivered another strong performance in 2006 - building on the improved earnings momentum that has been achieved over the last few years," Lloyds TSB chairman Sir Victor Blank said.
"We have a high-quality balanced set of businesses, demonstrating increased trading momentum and I believe Lloyds TSB is in great shape for 2007 and beyond."
The group's impairment charge, which pays off its customers' bad debt, rose by 20 per cent year-on-year.
Chief executive J Eric Daniels warned that the bank faced "challenges in terms of the slower rate of growth in the unsecured consumer credit market" in 2007.
He said he believed the group would achieve "double-digit economic profit growth over time".
Today's results follow Barclays Bank's record £7.16 billion pre-tax profits, announced on Tuesday. Shares in Lloyds TSB fell sharply by 2.61 per cent on early morning trading.
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