Citigroup is planning to open a series of Egg branches on the high street, following its recent GBP575 million acquisition of the UK online banking firm from Prudential, according to Marketing Week.
Surinder Singh, Citi UK consumer group’s chief executive, cited in Marketing Week, said that the new Egg-branded branches would increase Citi’s UK high street network, as well as adding current account and wealth management products to Egg’s portfolio.
The acquisition of Egg quadruples Citi’s current UK customer base.
Speaking to the marketing news publication, Surinder Singh revealed that Citi will expand significantly in the London and South-east region of the UK. At present, Citi has only six retail bank branches and 100 consumer finance branches in Britain.