LLOYDS TSB Corporate in Salisbury is celebrating its success in attracting new business.

In the last nine months, its customer portfolio has been boosted by nearly 60 substantial companies, each averaging £8m to £10m turnover.

New businesses now with Lloyds TSB Corporate include Print Movers of Salisbury.

Mark Handscomb, a relationship director of Lloyds TSB Corporate, said: "Despite the challenging economic climate, 2003 has been an exciting year for us and we are delighted with the outstanding growth achieved in new business.

"We have a prestigious client list covering a wide range of sectors, from electronics and engineering through to business-to-business, property and leisure.

"We feel it is a testament to our ability to make a real difference to our clients' businesses that has resulted in excellent customer retention rates and long-standing relationships.

"Having already exceeded our annual new business target in July of this year, we are eagerly looking forward to building on our success in 2004."

Turning to interest rates, Mr Handscomb said these looked set to rise in 2004. "The Monetary Policy Committee has decided that the time is not yet right for another interest rate hike," he said.

"But with the two main pressures that drove the last rise - strong consumer demand for credit and faster economic growth - still present, rates could hit 4.5 per cent by the end of 2004.

"Pressures from rocketing household and consumer borrowing are driving this trend, although the case for further rises seems a little less convincing when falling consumer confidence is taken into account. Consumers are now expecting their financial situation to worsen amidst higher interest rates.

"In addition, if inflation is within target, then it is even more difficult for the MPC to justify higher rates."

o Lloyds TSB in Salisbury also marked 2003 by joining with Salisbury Newspapers to sponsor youth theatre group Stage 65, which regularly performs at Salisbury Playhouse.

Lloyds TSB also took a stand at South Wilts Expo 2003, the business-to-business exhibition held in the City Hall, in Salisbury, in September.