Egg Latest News.
July 2011 : Citi today announced that its subsidiary Egg Banking plc has entered into an agreement to sell its Egg and Pi-branded Mortgage and Savings Business, along with the Egg and Pi Brands, to Yorkshire Building Society. The £2.5billion* savings book and £430 million* mortgage book represent approximately 550,000 customers. On completion of the transaction, Egg savers and borrowers will become members of Yorkshire Building Society.

March 2011 : Citi today announced that it has entered into a definitive agreement to sell its entire Egg credit card portfolio to Barclays Bank PLC. The £1.8bn* of gross assets in the Egg portfolio represents 1.15 million customer accounts.

Egg Profile
Egg was originally set up as a part of the Prudential Group in 1996. In 1998 this division was branded Egg.
On the 1st May 2007 Egg was sold to Citigroup for £575 million. Because Egg is only available online they clain to be the world's largest pure online bank.
Egg is a member of the Financial Ombudsman Scheme and Financial Service Compensation Scheme so deposits are covered up to £50,000.
Address
Egg Card Services
Riverside Road
Pride Park
Derby
DE99 3GG
It was estimated in early 2008 that 2.3 million egg cards were in issue.

Egg Product Range
Egg is famous for the Egg credit card which currently offers 0% balance transfers for 13 months but as well as the egg credit card egg provide savings accounts including fixed rate bonds,isas and instant access. loans and previously they have supplied mortgages although currently they are not accepting new applications.



egg

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