Egg Bank's 'ethiscore' rises
Jan
18
Written by:
18/01/2012 13:54
Change of score on brand sale to Yorkshire Building Society
Confirmation of the sale of egg bank's mortgage and savings business to Yorkshire Building Society sees the brand's ethiscore rise to 12.5. Until yesterday the egg brand scored only 2 out of 20 as a result of being owned by Citigroup, the giant US Banking corporation.
Citigroup has been widely criticised by campaigners for lending to controversial companies and projects including, nuclear, coal mining, oil and armaments.
Commentators say that it is good for consumers to have Yorkshire as another powerful mutual (as well as Nationwide) in the banking sector. Ethical Consumer say that it's great to see mutuals reclaiming some of the assets lost to for-profit banks during the now clearly disastrous period of demutualisation in the 1980s and 1990s.
For more details on the scores see our Bank Savings Accounts report. The new data will appear across our website from tomorrow afternoon, Jan 19th.
Our banking, mortgage and ISAs reports are all due to be updated in early February.
This story has been added to our corporate database. The database powers all our live buyers' guides, giving the score for each company on our rankings tables.