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Lloyds TSB reveals credit crunch hit
BANKING group Lloyds TSB today revealed a further £387 million hit from the credit crunch, but signalled there would be no need for a cash call to investors.
The high street bank said its funding position was strong and it was “firmly on track” to deliver a good first half performance.
Each division saw “double digit” growth in profits before tax in the first quarter, excluding the credit crisis impact, according to Lloyds.
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