Thursday 16 March 2017

UK Government To Cut Its Stake In Lloyds Bank To Just Below 3%

Lloyds Bank

During the financial crisis in 2008 the government took a 43% stake in the bank after a £20.3 billion bailout to prevent it collapsing.

It has now recovered £19.5 billion that will be used to reduce the national debt.

UK Financial Investments, which manages the government's stake in Lloyds, resumed the sale of shares in October, following a pause because of stock market turbulence.

In January this year it was announced that the taxpayer was no longer Lloyds' largest shareholder after the government reduced its stake to less than 6%.



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