Internet bank Egg today said its UK business was now "sustainably profitable" as it showed it had cut group losses over the last year.
Pre-tax losses for the year to December 31 fell to £87.8 million, compared with £155.3 million the year before, while income more than doubled to £189.4 million.
Chief executive Paul Gratton said: "We are confident that our UK business is now sustainably profitable."
Egg was created in October 1998 by Prudential and floated on the London Stock Exchange in June 2000. Prudential owns 79 per cent of the firm.
Egg's figures today showed customer numbers increased to 1.95 million at the year-end, up 600,000 during the year.
Mr Gratton said the group's marketing was now more efficient, with marketing and brand costs down significantly.
He said the number of customers now prepared to consider transactions online was growing rapidly.
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