Lloyds TSB Group’s Wholesale Markets sector, which includes Lloyds TSB Commercial Finance and Alex Lawrie Factors, has reported a pre-tax profit of Ј368m for the six months to 30 June 2003,an increase of 3.95% from Ј357m for the same period 2002. Pre-tax profit for the six months to 31 December 2002 was Ј296m.
Commenting on the group results the bank stated that the number of businesses using asset-based finance continues to grow strongly, and Lloyds TSB Commercial Finance and its specialist factoring division, Alex Lawrie Factors, have been well positioned, growing market share in both invoice discounting and factoring. Data from the Factors and Discounters Association (FDA) confirms Lloyds TSB Commercial Finance’s market leadership position.
