Government reduces Lloyds stake to below 2%
The government has continued to sell shares in Lloyds Banking Group, reducing its remaining shareholding to less than 2%.
"We have now recovered over £20 billion for the taxpayer and are very close to recovering all of the money taxpayers injected into the bank"
The announcement comes less than three weeks after the previous sale, which reduced the government's shareholding to below 3%.
The latest sales, conducted via the trading plan, mean the government has now recovered over £20 billion of the £20.3 billion taxpayers injected into Lloyds during the financial crisis, once share sales and dividends received are accounted for.
The Economic Secretary to the Treasury, Simon Kirby, said: "I welcome this further progress in returning Lloyds to the private sector. We have now recovered over £20 billion for the taxpayer and are very close to recovering all of the money taxpayers injected into the bank during the financial crisis."
On 9 January 2017, the government announced it had passed a significant milestone in returning Lloyds to the private sector when it confirmed it was no longer the bank’s largest shareholder.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
