Lloyds Banking Group has confirmed 9,000 job losses and the closure of 150 branches over the next three years.
The latest job losses - representing about 10% of its workforce - come on top of 43,000 cuts made since 2008.
The bank said it would concentrate on urban branch closures first and has abandoned its pledge to keep open "the last branch in town."
The group is also setting aside another £900m to cover possible payouts for the PPI mis-selling scandal.
That has cost Lloyds £11.3bn so far, including £2.5bn in administration costs.
Other fines have topped £200m.
Lloyds, which owns the Halifax and Bank of Scotland brands, reported pre-tax profits of £1.61bn for the nine months to 30 September.
"The group is performing strongly," said chief executive Antonio Horta-Osorio.
"We have met or exceeded the strategic objectives set out in 2011 and are ready to move on to the next stage in our development."
Mobile banking
The bank says the cuts and branch closures are due to customers switching towards mobile banking.
As a result, Lloyds will be investing £1bn in digital technology over the next three years.
According to the banking trade body the BBA, digital banking transactions are now worth almost £1bn a day, with almost 40 million mobile and internet banking transactions every week.
The bank remains confident that it will be able to pay a dividend to shareholders in 2014, but it needs the permission of the Prudential Regulation Authority (PRA) before it can do so.
Finance director George Culmer said talks with the PRA were "in a good position."
Spin-off
Earlier this year, Lloyds spun off the TSB bank as a separate floated business to appease European Union competition authorities.
It has gradually been reducing its stake in TSB and now owns just 50%, Lloyds said.
The government still holds a 25% stake in the bank, but has reduced its holding from about 39% through two separate share sales since September last year.
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