Lloyds share sales reach £14.5bn
The government has sold a further 1% shareholding in Lloyds Banking Group through the trading plan launched in December, taking the total raised for the taxpayer to £14.5 billion and reducing the government's shareholding to below 13%.
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The government held a 43% stake in Lloyds after bailing out the bank for £20bn after the financial crisis. The trading plan was launched on 17 December 2014 and will end no later than 31 December 2015.
Earlier this month, the government sold 5.4% of its stake in the Royal Bank of Scotland, raising £2.1 billion and reducing the taxpayer shareholding from 79% to 73%.
Chancellor of the Exchequer, George Osborne said:
"It’s fantastic news that we’ve sold more shares in Lloyds Bank, taking the total recovered to £14.5 billion.
"I am determined to build on this success, and to continue to return Lloyds to the private sector and reduce our national debt."
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