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Charities set to benefit from £37 million cash boost

Howard Lake | 23 February 2007 | News

Charities across the UK are set to benefit from a £37 million cash boost following the annual results announcement made by the Lloyds TSB Group on Friday 23 February 2007.

The Lloyds TSB Foundations receive one per cent of the Lloyds TSB Group’s pre-tax profits in lieu of shareholder dividend, to distribute to local charities throughout the UK.

The funds will be split between the four Foundations with England and Wales receiving £26.8m, Scotland receiving £7.2m, Northern Ireland receiving £2m and the Channel Islands receiving £1.1m.

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The Lloyds TSB Foundations form one of the largest grant-making trusts in the UK. Since their formation in 1987 they have made grants totalling over £300 million. The Foundations’ focus is on supporting smaller underfunded charities that help disadvantaged people to play a fuller role in the community.

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