New era for Lloyds begins

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

It's a symbolic step for the country's recovering banking sector.

Britain has sold its last remaining stake in Lloyds (NYSE:LYG), making the lender the first to exit state-ownership after the financial crisis of 2007-09.

Lloyds said the government will make a profit of about £900M from the bailout, having spent more than £20B rescuing the bank.