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Thursday July 22, 04:48
U.K. online bank Egg posts loss
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U.K. online bank Egg posted a 4 million pound loss for the six months of the year amid operating losses for its French business and a restructuring charge, according to CBSMarketWatch). Egg this month announced plans to close its French division. U.K. insurer Prudential (PRU), a majority owner of Egg, is seeking a buyer of the bank. Egg said operating profit in the U.K. declined to 34.5 million pounds in the first half of the year from 36.7 million a year ago. Egg added 292,000 net new customers in the first half year. Egg shares rose last week amid speculation the bank would announce its sale to Capital One (COF). "The past six months have been difficult for Egg with the uncertainty created by the potential sale of the group... We enter the second half of the year with confidence and look forward to further developing our U.K. business," it said.
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