Troubled internet bank Egg has reported that its annual pre-tax losses for 2003 have risen to £34.4m (€50.9m), compared to £16.6m (€24.5m) the previous year.

Online bank Egg today announced 70 job cuts in the UK and said it was in talks which could lead to a sale of its struggling French arm.

Internet bank Egg today reported a rise in profits at its UK arm over the last quarter, although spending on its international business pushed the group into the red.

Egg says it's on track to break even during the fourth quarter of this financial year.

Egg, the Internet bank launched by Prudential, today said it had added nearly a quarter-of-a-million customers in the last quarter, and was on track to break even at the end of this year.