Feeds

Egg finally flees France

An oeuf is an oeuf

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Online bank egg has finally rid itself its unloved French subsidiary.

The credit cards and loans part of the business will be sold to Banque Accord for £96m in cash. The deal is subject to regulatory approval but has been approved by unions. 66,000 customers will see their accounts move with net assets of approximately £141m.

Prudential-owned egg has been trying to get shot of its French operations since late 2003. Egg said UK profits of £72.8m for 2003 were eaten up by French losses of £89.1m. In July this year the bank said it would close the business having failed to find a buyer.

The deal should see 100 out of 450 jobs saved and moved across to Banque Accord.

A spokeswoman for egg confirmed that it is still in talks with INGDirect to sell off its savings and investment business in France. ®

Related stories

Egg losses soar on France debacle
Pru pulls out of great Egg race
Egg flees France

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.