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Lloyds new era begins as government sells off final shares

Reuters  |  LONDON 

By Andrew MacAskillLONDON (Reuters) - Britain has sold its last remaining stake in Lloyds Banking Group, making the lender the first to re-emerge from British state ownership in a symbolic step for the country's recovering banking sector.The sale draws a line under one of the largest bailouts from the 2007-2009 global financial crisis. This involved Lloyds, Britain's biggest retail lender, being rescued after an ill-fated government-brokered takeover of rival HBOS."Six years ago we inherited a business that was in a very fragile financial condition," Lloyds Chief Executive Antonio ...

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First Published: Wed, May 17 2017. 12:40 IST