Internet bank Egg has ditched a joint credit card venture with high street chemist Boots after failing to sign up enough customers.
The aim was for Egg to cut the cost of acquiring new credit card customers by tapping into Boots' loyalty card users but the venture was scrapped after attracting only 104,000 people.
But the online bank, 79-per-cent owned by the Prudential, said it had still managed to attract new customers in its half-year results to 30 June 2002.
Total customers increased by 205,000 to over two million after a £12.9m rebranding and advertising campaign and special offers on savings accounts and credit cards.
Egg turned profitable at the end of last year. But international expansion, with the acquisition of France's ZeBank, led to a pre-tax loss of £1.2m compared to a loss of £25.5m for the same period last year.
The bank's UK operations, however, posted a pre-tax profit of £4.6m compared to a loss of £24.5m last year.
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