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UK taxpayer more than halves share in Lloyds after latest selloff

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UK taxpayer more than halves share in Lloyds after latest selloff

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The British government’s share of Lloyds Bank, which was rescued with taxpayer’s cash in 2009, has fallen to under 22% following the sale of another tranche of shares worth 678 million euros.

Latest figures indicate more than 12.2 billion euros have been recovered from Lloyds so far, and that a similar amount will be raised in 2016 as the bank is progressively returned to private hands.

Lloyds became 40% publically-owned following its near collapse in 2009 when the government spent some 90 billion euros propping up the crisis-hit banking sector.