Monday 15th January 2007
Confidence in business banking is high, according to the Lloyds TSB Business in Britain survey published today.
Performed prior to last weeks interest rate hike by the Bank of England, the survey shows confidence in prices and profitability currently stands at a 12-year high.
Diana Brightmore-Armour, chief executive officer of corporate banking and cohead of corporate markets at Lloyds TSB, said: "By raising their prices companies have taken full advantage of stronger UK and global growth last year."
"Strong global demand for UK business services and robust domestic conditions is a sure-fire recipe for success," she added.
Over the course of 2006, the number of firms reporting a net increase in sales was 37 per cent greater than those reporting a decrease, Lloyds TSB found.
Of this, 55 per cent of rises occurred in the last six months of the year, a 14 per cent increase on figures for 2005.
Lloyds TSB offers a range of business banking services including cash management, card facilities and payment processing.
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