Holding slips below 3%
Treasury sells more shares in Lloyds Bank
UK financial Investments, the Treasury-controlled manager of the taxpayers’ stake in the bailed-out banks, has reduced its holding to 2.95%.
Analysts believe the government is on course to get back the entire £20.3 billion pumped into the bank at the height of the financial crisis in 2009 when it almost collapsed following its acquisition of HBOS.
Chancellor at the time, Alistair Darling, led a rescue which saw the taxpayer take a 43.4% stake in the bank.
All proceeds from the share sales go towards reducing the national debt.