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UK government brings Lloyds stake to below 2%

Staff Writer |
Lloyds Banking Group said the UK government has reduced its stake in the bank to below 2%.

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The UK government's holding in the bank now stands at 1.97%, or approximately 1.41 billion shares. This was reduced from its previous level of 2.10 billion shares, with the share sale made at an undisclosed price.

At its peak the UK government held a 43% stake in the lender, following its bailout of the bank in 2008.

"The group is now very close to completing its journey back to full private ownership, and we are pleased that over GBP20.00 billion out of the GBP20.30 billion injected has now been returned to the taxpayer," said Antonio Horta-Osorio, chief executive of Lloyds.

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