Britain cuts stake in Lloyds Banking Group
Britain has cut its stake in Lloyds Banking Group by another 1% to 20.95%, as the government edges closer towards turning the bank fully private.
Banks
4,008.17
16:59 23/04/24
FTSE 100
8,044.81
16:49 23/04/24
FTSE 350
4,424.29
16:59 23/04/24
FTSE All-Share
4,378.75
17:14 23/04/24
Lloyds Banking Group
51.34p
16:34 23/04/24
The UK government owned 41% of the lender after a £20bn bailout during the financial crisis. The government, which has since halved its stake, plans to sell about £9bn worth of the stock of the next year.
On Sunday the Conservative party said the sale would include an offer to private retail investors at a discount if it wins the general election in May.
"Today's announcement shows the further progress made in returning Lloyds BankingGroup to full private ownership and enabling the taxpayer to get their money back," Lloyds said in a statement.
"This reflects the hard work undertaken over the last four years to transform the group into a simple, low-risk and customer-focused bank that is committed to helping Britain prosper."