Shares in British banks were broadly up on the FTSE 100 in morning trading, following a set of full year results from Lloyds Banking Group.

The part-nationalised bank said that statutory pre-tax profit fell 73 per cent to £281 million. On a combined business basis the group went from a loss of £6.3 billion to a profit of £2.2 billion.

Richard Hunter, Head of Equities at Hargreaves Lansdown called the results "steady but unexciting".

The news did little to help Lloyds Banking Group's share price, although rival banks saw their value rise.

By 10:40 shares in Lloyds Banking Group were down 4.10 per cent to 63.08 pence per share.

However RBS saw its shares rise 0.75 per cent to 45.94 pence per share, Barclays shares increased 0.51 per cent to 314.15 pence per share and HSBC shares climbed 1.55 per cent to 705.60 pence per share.

Overall the FTSE 100 was up 0.24 per cent to 5,934.39.

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