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25/02/2002
Online bank Egg slashes pre-tax losses
Internet bank Egg has revealed it reached its breakeven target for the October to December period.
The company also slashed its pre-tax losses by £67 million to £88 million in 2001 as well as reporting a 103 per cent rise in operating income. The bank's income also reached £189 million compared with £93 million a year earlier.
While the company is currently developing its international business in France through the acquisition of Zebank and associated distribution partnerships, it has also entered a deal with the software giant Microsoft to offer digital payments services to Hotmail users in the UK.
However Egg's expansion plan relies on support from investors who had been keen to see strong performance in the UK towards the end of 2001 before investing more in Egg's international business.
(MB)
The company also slashed its pre-tax losses by £67 million to £88 million in 2001 as well as reporting a 103 per cent rise in operating income. The bank's income also reached £189 million compared with £93 million a year earlier.
While the company is currently developing its international business in France through the acquisition of Zebank and associated distribution partnerships, it has also entered a deal with the software giant Microsoft to offer digital payments services to Hotmail users in the UK.
However Egg's expansion plan relies on support from investors who had been keen to see strong performance in the UK towards the end of 2001 before investing more in Egg's international business.
(MB)
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24 July 2001
Internet bank Egg announce reduced losses
Internet banking company Egg has announced a reduction in the company’s losses for the first six months of the year. Egg said that pre-tax losses were down 21 per cent to £63.4m in the first half of the year compared to £80.7m in the same period a year ago.
Internet bank Egg announce reduced losses
Internet banking company Egg has announced a reduction in the company’s losses for the first six months of the year. Egg said that pre-tax losses were down 21 per cent to £63.4m in the first half of the year compared to £80.7m in the same period a year ago.
13 December 2001
Online bank turns profit for first time
Europe's largest internet-only bank, Egg has revealed that in November it turned a profit for the first time. The news meet targets set in June last year when the bank was floated. The online bank credited its prosperity down to earnings gained from credit card customers.
Online bank turns profit for first time
Europe's largest internet-only bank, Egg has revealed that in November it turned a profit for the first time. The news meet targets set in June last year when the bank was floated. The online bank credited its prosperity down to earnings gained from credit card customers.
07 August 2002
Ulster Bank half-year profits show 11% rise
Half-year results posted by the Royal Bank of Scotland have revealed that its Ulster Bank subsidiary has seen a massive £25 million hike in pre-tax profits compared to the same period last year.
Ulster Bank half-year profits show 11% rise
Half-year results posted by the Royal Bank of Scotland have revealed that its Ulster Bank subsidiary has seen a massive £25 million hike in pre-tax profits compared to the same period last year.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
