LONDON: British bank Lloyds , bailed-out by the UK government at the height of the financial crisis, said Wednesday that it had returned to full private ownership. "Today the government has sold its last shares in Lloyds Banking Group, receiving more money than was originally invested," said LBG chief executive Antonio Horta-Osorio. "Thanks to the hard work of everyone at Lloyds, we've turned the group around. "It's been a long and winding road back to recovery, but finally the government has sold its last stake in Lloyds, almost a decade after the taxpayer bailed the bank out," said Hargreaves Lansdown analyst, Khalaf. "Lloyds is now back to business as usual, and the withdrawal of a large seller from the market should be positive for the share price.

Source: Economic Times May 17, 2017 08:26 UTC