The British government has confirmed its remaining shares in Lloyds Banking Group have been sold, eight years after pumping in £20bn to save it. Lloyds Bank said the government will see a return of £21.2bn on its investment.Add your comment!
The £20.3bn spent bailing out Lloyds Banking Group during the financial crash has been re-paid in full, UK chancellor Philip Hammond has said. Nine years after the government bought 43.4% of Lloyds, the taxpayer has now got slightly more - £20.4bn - back.
The British government said on Monday it plans to sell at least £2 billion ($3.04 billion) worth of shares in Lloyds Banking Group PLC to the general public at a discount next spring as part of a broader move to cash out its stake in the bailed-out lender.