Lloyds TSB on Friday signalled its readiness to take advantage of the upheaval in the banking industry as the British lender reported robust pre-tax profits of £4bn ($7.9bn, €5.3bn).

UK Daily View: Lloyds TSB bullish amid turmoil

Peter Thal Larsen on how the British bank is weathering the credit storm

The bank, the UK’s fifth largest, has suffered less direct impact from the turmoil in the capital markets than some of its rivals, and said its strong balance sheet and cautious business model put it in a good position to strengthen its position in the UK market.