The UK's largest lender Lloyds Banking Group has defended itself against criticism for not offering savers more.
Chief executive Charlie Nunn told the BBC it was focused on making ends meet for those customers with less money.
Lloyds and other banks have been criticised for not offering competitive levels of interest rates for savers.
The Bank of England's benchmark interest rate was at historically-low levels for a decade until December 2021, since when it has risen consistently.
It is now at 4%, having risen from 0.1% - prompting many banks to increase the mortgage rates they offer customers.
Anna Bowes, of independent comparison website Savings Champion said; "The high street banks are among some of the worst culprits when it comes to letting down their savings customers. This is a real blow to desperate savers, especially as the high street banks hold so much of savers' money."
Profits
Lloyds banked pre-tax profits of £6.9billion in 2022, matching the profits it made in the previous year.
Despite revenue increasing by 14%, helped by higher interest rates, provisions for bad loans which amounted to almost £1.5billion over the course of the year meant profits were flat.
The lender said it was seeing "very modest evidence of deterioration" in its credit book.
Matt Britzman, an equity analyst at Hargreaves Lansdowne said: "For now, the impact of the cost-of-living crisis on consumers and businesses is only having a small impact on debt repayment, though we'd expect that to pick up as we move through the year."
The bank also revealed a 12% increase in its bonus pool for employees to £446million.
It follows the UK Government's decision to remove the cap on bonuses last year.
FTSE 100
The UK's top share index, the FTSE 100, was down 22 points at 7,908 shortly after opening this morning, following yesterday's 47-point loss.
Brent crude futures were 0.48% higher at $80.93 a barrel.
Companies reporting today
- Full-year results: Anglo American, BAE Systems, Drax Group, Greencoat UK Wind, Howden Joinery, Rolls-Royce, Serco