A newspaper report in the UK says that insurance group Prudential plc is looking to exploit synergies with its Egg online banking operation to drive down costs.

The Financial Times reports that the insurance group is examining where overheads can be trimmed across its UK operations, which now include the fully-integrated Egg unit.

Prudential last year announced that it was buying the remaining 21% of Egg that it did not already own after spending many months previously trying unsuccessfully to sell the business. New chief executive Nick Prettejohn promised that the bank would in future have a far bigger role to play with the Pru as a whole.

The newspaper report said that job cuts at the business could not be ruled out.