The Bankwatch

Tracking the consumer evolution of financial services

Lloyds moves to regain independence

This is nice to see.  Lloyds is was the most risk averse bank before the crisis.  Yet after the Government intervention and Lloyds ‘takeover’ of HBOS with all their self inflicted mortgage problems, the situation altered dramatically.

I hope Lloyds will be a survivor, and can remove government ownership.

Lloyds repays £2.3bn to UK Treasury

Lloyds Banking Group has repaid £2.3bn to the UK Treasury after strong support for its open offer and placing aimed at repaying the government’s £4bn of preference shares. Lloyds is believed to be the first major western bank to repay state equity in the round of bailouts that began last year.

Written by Colin Henderson

June 9, 2009 at 00:45

Posted in UK

Tagged with ,

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