Menu
24/07/2001
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. The results were better than expected, with analysts previously anticipating a loss of between £65-70 million.
However, Egg's foray into the mortgage market has been less successful. Egg branded mortgage sales were down to £164m compared with £318m the previous year.
Egg revealed that 370,000 net new customers were signed up during the six month period, a 19 per cent rise on the first half of the previous year.
Egg claims they are on target to break even at some point during the last three months of the year. However, Egg did not reveal how many customers had taken their banking away from Egg during the first six months of the year.
The bank now has around 1.7 million people using Egg’s financial services.
(MB)
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. The results were better than expected, with analysts previously anticipating a loss of between £65-70 million.
However, Egg's foray into the mortgage market has been less successful. Egg branded mortgage sales were down to £164m compared with £318m the previous year.
Egg revealed that 370,000 net new customers were signed up during the six month period, a 19 per cent rise on the first half of the previous year.
Egg claims they are on target to break even at some point during the last three months of the year. However, Egg did not reveal how many customers had taken their banking away from Egg during the first six months of the year.
The bank now has around 1.7 million people using Egg’s financial services.
(MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
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.
05 August 2009
Irish Bank Losses Rising
Northern Ireland's First Trust Bank has lost £41m, according to the latest financial statement. The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation. AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
Irish Bank Losses Rising
Northern Ireland's First Trust Bank has lost £41m, according to the latest financial statement. The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation. AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
14 June 2010
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
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.
26 August 2011
Anglo Losses Reduced To €101m
Anglo Irish Bank has narrowed its losses substantially in the first half of 2011. The bank has reported pre-tax losses of €101m compared to a loss of €8.2bn for the same period last year. The bank noted an operating profit of €332m before impairments in its trading update today. However, total provisions for impairments were €778m.
Anglo Losses Reduced To €101m
Anglo Irish Bank has narrowed its losses substantially in the first half of 2011. The bank has reported pre-tax losses of €101m compared to a loss of €8.2bn for the same period last year. The bank noted an operating profit of €332m before impairments in its trading update today. However, total provisions for impairments were €778m.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
