Lloyds Banking Group said it would resume dividend payments for shareholders as it posted £792m in pretax profit for its fourth quarter, down from £1.4bn in the previous year.

Pre-tax profit hit £1.2bn for the year, a 70% fall compared to last year. Lloyds reported its net income at £3.59bn from £4.13bn in the previous year. It reported a £4.2bn impairment, an increase of £3bn compared to 2019 driven by charges in the first half, which reflected potential future losses.