Lloyds in reach of private ownership

|About: Lloyds Banking Group plc (LYG)|By:, SA News Editor

It has taken nearly a decade, but the British government is now poised to return Lloyds (NYSE:LYG) to the private sector at a profit, FT reports.

With a remaining stake of less than 2% and some £20B now returned to taxpayers, the U.K. Treasury is expected to imminently recoup the remaining £300M spent on salvaging the lender during the global financial crisis.