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Gloucestershire Business News

Lloyds returns to private ownership

The Government has sold its final shares in Lloyds Banking Group which means it is back in private ownership.

At the peak of the financial crisis taxpayers pumped £20.3 billion into the bank eight years ago.

The Government had a 43 per cent stake in Lloyds at one time but has been selling its shares ever since.

The BBC reported Lloyds as saying the Government will see a return of £21.2 billion on its investment.

Lloyds chief executive António Horta Osório said Lloyds is now one of the "strongest banks" in the world.

Lloyds has a major centre at Barnwood employing 900 people.

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