Lloyds Banking Group boss Antonio Horta-Osorio received a £11.5 million bonus for 2014, the bank has confirmed.
His bonus included more than £7 million from a long-term share-based plan linked to the bank's performance for the three years since 2012.
ITV News Business Editor Joel Hills has tweeted the breakdown of bonuses awarded to the bank's executives:
A job well done. This is how Lloyds Banking Group's executives will be rewarded. http://t.co/iOnCoKP1FB
Overall, the bank's annual bonus pool was £369.5 million, 3.6% less than the previous year.
Chancellor George Osborne has hailed the announcement of £1.8bn profits at Lloyds Banking Group as a "major milestone in the recovery of the British economy", ITV News Business Editor Joel Hills has reported.
"A major milestone in the recovery of the British economy from the Great Recession and the bank bailouts" - Chancellor on Lloyds dividend.
Lloyds also confirmed money has been set aside to cover the continuing fallout from the PPI scandal.
Lloyds makes additional provision of £700m for claims from customers mis-sold PPI. Total cost to bank (and shareholders) now £12 billion
Lloyds Banking Group will pay its first dividend to shareholders in six years - since its 2008 bailout - after reporting annual profits of £1.8 billion.
The payments to the three million shareholders will total £535 million after the fourfold rise in annual profits.
Lloyds was rescued after an input of £20 billion taxpayer funds in 2008 at the height of the financial crisis.
The Government's 40% stake has since been reduced to 24%, meaning the Treasury will receive £130 million from the company's 0.75p a share dividend payment.
Royal Bank of Scotland posted a loss of £3.45bn in 2014, its annual results showed.
The result compared to a loss of £9bn in 2013.
HSBC chairman Douglas Flint has rejected the suggestion that he and the bank's chief executive Stuart Gulliver should lose their jobs over the current banking scandal.
Asked by MP John Mann at a House of Commons Treasury Committee meeting why he had not sacked Mr Gulliver he said it was because "I think he's doing an excellent job."
HSBC's chief executive Stuart Gulliver has denied allegations the bank applied pressure to The Telegraph so the newspaper would not publicise the story about the banking scandal.
Asked directly if pressure was applied, he said: "No because we realise that actually having a free and vibrant press creates the very body of those publications that supports our advertising and therefore makes them credible for our clients."
The bank did admit though that the newspaper is paid the third biggest chunk of its advertising budget, ITV News' Deputy Political Editor Chris Ship reports:
The list of "regulatory problems" at scandal hit bank HSBC make a "terrible list", the bank's chairman has admitted.
Questioned by MPs over a list of problems at the bank which include PPI mis-selling, interest rate derivative mis-selling, Forex manipulation and violation of international sanctions, HSBC chairman Douglas Flint said it had been "humbling" when the bank's issues emerged.
He said: "It is a terrible list ... One of the most humbling things that has happened in my career is a recognition of all the things you did not know, and you go and say "what could I have known or what should I have known?"
"What these instances have illustrated or brought to the fore is that allowing interpretation at 88 countries as it was at the time is the wrong way to go and we should centralise control."
HSBC are suffering from "horrible reputation damage" the bank's chairman admitted today.
ITV News' Deputy Political Editor Chris Ship has tweeted about the latest developments to emerge from today's House of Commons Treasury Committee meeting:
HSBC Chairman Douglas Flint: we are suffering horrible reputation damage and a bank survives on its reputation #HSBC
HSBC Chairman asked if HSBC is committed to keeping its HQ in the UK? Reply: we are committed to being in the best place for HSBC <<Clear?