Lloyds Banking Group has confirmed 9,000 job losses and 200 branch closures as it moves to bolster its digital banking offering.
The bank - part-owned by the taxpayer - said the cuts would take place over the next three years as customers' habits continued to shift towards online banking services.
Sources at Lloyds told Sky News it had previously shed 45,000 jobs since its bailout at the height of the banking crisis.
The news was contained in its latest results which showed a nine-month profit before tax of £1.61bn - flat on the same period last year.
Lloyds said the figure included an extra £900m provision for the costs associated with the payment protection insurance mis-selling scandal.
Antonio Horta-Osorio wants to make Lloyds more efficient
Sky News reported on Monday night that Lloyds and other major banks were all planning to put aside extra funds, giving them a combined provision of more than £22bn.
Lloyds accounts for half the total.
Underlying profits for the business, which includes Halifax and Bank of Scotland, rose 41% to £2.2bn in the third quarter.
The job cuts announced by Lloyds represent around 10% of its current workforce of 88,000 and form part of its plans to "digitise" the bank.
Earlier this year, the British Bankers' Association published research showing that UK-based customers conducted almost 40 million mobile and internet banking transactions each week in 2013, a huge increase on the previous year.