Lloyds TSB has abandoned the launch of internet bank Evolvebank.com in Britain and will instead create a bank for Goldfish, Centrica's quirky credit card brand.

The announcement was immediately embroiled in controversy when Centrica's 50-50 partner in Goldfish, HFC, pointed out its contract was still in place and it could not be assumed that Goldfish's 1m customers belonged to Centrica. Centrica wants to transfer them to the new venture, to be known as Goldfish Holdings, next year.

The venture is intended to break even by 2003 and have 2m customers by 2005 when cheque books and current accounts will be available.

Evolvebank.com was scheduled to open in the coming weeks after launching in Spain last month. Lloyds TSB said it was unlikely to reconsider taking it live until at least May.

Centrica is retaining control of Goldfish, with a 70% stake and Lloyds TSB is taking 30%. The ownership structure prompted speculation that the new bank will eventually be spun off.