Lloyds Banking Groups wealth and international business unit fell further into the red in fiscal 2010 with a pre-tax loss of £4.8bn, an increase of 104% from the previous year.
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On a positive note, the wealth business posted a pre-tax profit of £269m in fiscal 2010, an increase of 36% versus the previous fiscal.
The UK wealth business increased its customer numbers by 12%.
Funds under management (FuM) from private and international banking declined 13.5% year-on-year to £13.5bn.
In contrast, FuMs from the banks St Jamess Place unit increased by 26% to £27bn.
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By GlobalData
17,000 new private banking customers
The bank said it acquired 17,000 new private banking customers in fiscal 2010.
The bank said that the wealth segment offered growth opportunities in 2011 and is targeting a top advisory role to expatriate and private banking clients in the UK, as well as certain other international markets, the bank said.
On group level, the bank returned to the black with a pre-tax profit for fiscal 2010 of £2.2m ($3.5m), compared with a loss of £6.3m loss in 2009.
But the bank reported a net loss for the full year of £258m, compared with a net profit of £2.95bn in fiscal 2009.
