Permanent TSB has reported a loss before exceptional items of €977m for 2013 - exactly the same as for 2012.
Most of the loss was due to an impairment charge of €927m, which was slightly up on the previous year in line with Central Bank guidance.
Chief executive Jeremy Masding said the bank has turned a corner in its restructuring plan, increasing customers and deposits and resuming lending, issuing €200m of mortgages last year.
Shares in group closed higher in Dublin trade following the day's announcements.
He said losses on tracker mortgages are in the tens of millions, not hundreds of millions as many assume.
Operating loss at the bank was €48m, compared with an operating loss of €86m in 2012, indicating an improved underlying performance in the bank's operations.
Operating income increased by 28% to €252m, mainly as a result of a reduction in the cost of the Eligible Liabilities Guarantee scheme, which is being phased out by the Government.
However an impairment charge of €927m - money set aside to deal with expected loan losses - pushed the operating loss for 2013 to €977m, the same as 2012.
The 4% increase in impairment charges was mainly driven by a 50% increase in provisioning for Irish home loans, rising from €292m in 2012 to €439m last year.
There was a 30% increased in provisioning for Irish buy-to-let portfolios, from €224m in 2012 to €290m last year.
The accounts included some €300m in additional provisioning as a result of guidance from the Central Bank, following last summer's Balance Sheet Assessment of the Irish banks on behalf of the Troika.
Permanent TSB's Core Tier 1 equity ratio at 31 December 2013 was 13.1%.
The company benefitted from a €309 million exceptional item, the write-back of pension liabilities. This reduced the pre-tax loss to €668 million.
The accounts are further flattered by the recognition of deferred tax assets of €407m, enabling Permanent TSB to record an after tax loss of €261m.
The net interest margin - the difference between the banks cost of funds and the interest it earns on loans - was 0.82%, a slight increase of ten basis points on 2012, but still lagging far behind Bank of Ireland and AIB.
Permanent TSB's reliance on ECB funding was further reduced last year, falling from 29% to 20% of its total funding - a reduction in cash terms of €3.8 billion, to €6.9 billion.
Retail deposits increase slightly to €14 billion, while corporate deposits increased significantly, from €3.1 billion to €5.5 billion.
The bank issued €500m worth of residential mortgage backed securities last year, and repaid senior debt of €2.6 billion.
The bank says its arrears have peaked and are now in decline.
26% of Ireland home loans and 35% of Ireland BTLs are non-performing.
The bank's Asset Management Unit - which manages €6.4 billion in troubled loans (out of the Groups €41 billion total assets) - made around 18,000 offers of long term solutions to distressed mortgage holders.
Of 14,845 offers to residential mortgage holders, 10,305 were accepted, while in the case of BTL's 3,221 offers were made of which 2,035 were accepted.
The bank says it has met all its Central Bank targets for resolutions.
About one third of the offers were for split mortgages. The bank took possession of 60 properties on foot of court orders last year.