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IF hits break even

Intelligent Finance says it has achieved its target of breaking even by the end of last year and had assets of £15.5bn at December 31, 2003.

The bank says it would be the UK&#39s 12th largest lender if viewed as a standalone business and now has 820,000 customers.

IF chief executive Grenville Turner says: “IF set out to break the mould using new technology to help deliver innovative products at highly competitive prices. We have led the way in transforming the mortgage market with offset banking and have met out promise to break even at the end of 2003.”

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