Britain's Lloyds Banking Group announced surging 2018 profits on Wednesday on lower mis-selling costs and the "resilient" UK economy -- despite looming uncertainty over Brexit.
Earnings after taxation, or net profit, soared 27 per cent to 3.87 billion pound (USD 5.02 billion) last year, compared with 3.04 billion pounds in 2017, LBG said in a results statement.
Lloyds, which returned to full private ownership in 2017 following its financial rescue by the UK government a decade earlier, added that pre-tax profit rebounded 13 per cent to 5.96 billion pound.
"Given our UK focus, our performance is inextricably linked to the health of the UK economy," added chief executive Antonio Horta-Osorio.
"Over 2018, economic performance has remained resilient with record employment and continued GDP growth."
In a nod to uncertainty over Britain's looming departure from the European Union, he added: "Whilst the near-term outlook remains unclear, particularly given the ongoing EU withdrawal negotiations, our strategy will continue to deliver for our customers."
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