This funding includes maturing medium term wholesale funding, commercial paper and certificates of deposit business.
Following on from the pre-close trading statement announced on 29 November 2007, A&L revealed that it had reduced its reliance on short-term markets for wholesale funding as the result of ongoing conditions - highlighting overall a more robust funding position.
The lender also revealed that its Retail and Commercial Banking operations performed in line with 2007 expectations.
Figures pertaining to the end of December 2007 showed that 56 per cent of A&L's customer loans and advances were funded by customer deposits.
A&L also revealed that its total Treasury impairment charge for the year ending 31 December 2007 lay at around £155m.
Chris Rhodes, group finance director said of the trading figures: "Financial market conditions have resulted in losses on certain Treasury investments, reducing 2007 core operating profit to lower than in 2006. Excluding the impact of Treasury investment losses, core operating profit for 2007 will be over £598m."
Further preliminary results will be released on 20 February, with an update of details going forward into 2008.
