In the second half of last year Northern Rock returned to profit.
The nationalised UK bank was able to bounce back thanks to rising interest income and losses on loans.
A profit of £466.7 million was posted by the organisation in the last half of 2009, compared to a £724.2 million loss it made in the first half of the year.
For the full year, a pretax loss of £257.5 million was made. This was down on 2008's figure, which stood at £1.355 billion.
According to Northern Rock, loan loss impairment charges are expected to remain high during 2010, relative to historic norms, but below the level recorded in 2009.
Gross residential lending has been increased by the bank over the last year from £2.9 billion to £4.2 billion.
The company, which split into two units in January, recently revealed it will pay staff bonuses of £14.9 million, with almost £3 million being awarded to 32 senior managers.
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