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13/12/2001
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.
The company also revealed a revival in subscriber numbers, with nearly 130,000 customers signing up since the beginning of October.
The bank also revealed it attracted 83,000 customers in the July to September quarter, when it lost around £18.4 million.
In the City, Egg shares stood unchanged at 154p in early trade on Thursday, while shares in Prudential, which owns 79 per cent of Egg, were 5p lower at 782p. (MB)
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.
The company also revealed a revival in subscriber numbers, with nearly 130,000 customers signing up since the beginning of October.
The bank also revealed it attracted 83,000 customers in the July to September quarter, when it lost around £18.4 million.
In the City, Egg shares stood unchanged at 154p in early trade on Thursday, while shares in Prudential, which owns 79 per cent of Egg, were 5p lower at 782p. (MB)
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25 February 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.
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.
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.
27 August 2010
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
'Economy Improving' Says Bank, Despite Downgrade
Ulster Bank has announced that improving exports and more consumer spending has led to an improving economy, despite yesterday's downgrading of Ireland's credit rating. Ulster Bank said today it was revising its forecasts for Irish economic growth in 2010 upwards, predicts average annual GDP growth of 1%, up from -0.5% previously.
08 November 2002
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
Northern Bank posts record annual results
The annual results from the Northern Bank have revealed pre-tax profits of £111m up 13% on the previous corresponding year-end figures. The results include a £19.9m profit in relation to the disposal of subsidiary company Northern Bank Insurance Services to Wealth Management Europe Holdings another subsidiary of National Australia Bank.
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