NetB@nk (Nasdaq: NTBK) rose 1 5/16 to 16 1/16 Monday after the Internet banking company announced that its products and services would be “heavily promoted” on America Online (NYSE: AOL) sites.
NetB@nk’s interest-earning checking account, money-market and CD accounts and other products will be promoted across AOL, CompuServe, Netscape Netcenter and Digital City. The company will also be promoted in AOL Banking Centers in 21 U.S. states and on AOL’s Personal Finance Channel.
NetB@nk bills itself as the largest FDIC-insured bank operating solely on the Internet. The company says its customer base grew by 580 percent in 1999.