UK's TSB says 2013 profit was $289 million -IPO prospectus

LONDON, June 9 (Reuters) - TSB , the new Britishbank being spun off from Lloyds Banking Group, made aprofit of 172 million pounds ($289 million) last year, accordingto the prospectus for its stock market listing.

In the 332 page document, TSB said it would consideracquisition opportunities if they arose and could, in time, payout dividends worth between 40 and 60 percent of its underlyingearnings. The bank has said it will not pay a dividend until the2017 financial year in order to invest in growth.

Lloyds said earlier on Monday that it had priced TSB'sinitial public offering (IPO) at below book value. The mid-pointof the price range values the business at 1.3 billion pounds.

($1 = 0.5956 British Pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)