Lloyds Banking Group has returned to profit, after announcing it made £2.1bn ($3.2bn) in the six months to the end of June.
It compares with a loss of £456m for the same period last year.
The bank said it had made substantial progress on strengthening its balance sheet, although "further work remains to be done".
The bank, which is 39% owned by the UK government, increased its lending by 1%, or £3bn, over the first half.
The bank said it would be talking to regulators in the coming months about resuming paying a dividend on its shares, which would pave the way for the government to sell off its £19bn stake.
Some analysts expect Chancellor George Osborne to make an announcement regarding the sale of the government's stake as early as Thursday.
"The chancellor said that he would be going for an institutional placing with retail to follow earlier in the year, so I would expect the institutional part of that to come out pretty quickly," said Gavin Oldham from stockbrokers Share Plc.
"I would have thought that Lloyds would be quite keen to do that initial placing with the institutions as soon as possible, so we may see an announcement today, perhaps £5bn [worth of shares] or more," he added.
Lloyds' chief executive, Antonio Horta-Osorio, said: "We are now well on track to create a bank with a leading cost position, lower risk, a lower cost of equity, and products and services focused on our customers' needs, to deliver strong, stable and sustainable returns to our shareholders."
Bad debts at Lloyds fell 43% to £1.8bn, but the group had to make a further £450m charge to its accounts to cover the compensation for mis-selling of payment protection insurance (PPI).
That means that, so far, the bank's total bill for PPI related costs is now £7.3bn.
On the international front, Lloyds' cost-cutting programme continued in the first half of the year.
It has now closed branches and exited from 17 countries, as it looks to focus on its core UK market.
The bank's plan is to be operating in fewer than 10 countries by the end of next year.
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