The British Government has reduced its stake in Lloyds Banking Group to less than 6%, meaning the British taxpayer is no longer the group's largest shareholder and takes the lender one step closer to being returned to private hands.
THE reality of Britain’s decision to leave the EU is becoming more stark by the day, with the Lloyds Banking Group yesterday announcing that it is cutting 3,000 jobs and shutting 200 branches in the UK, as it braces itself for a cut in interest rates.
Royal Bank of Scotland (RBS) and Lloyds Banking Group are the two major UK lenders most exposed to the commercial real estate market, which poses a risk for banks after asset managers froze withdrawals from property funds, according to analysts.
The UK’s top banks are set for one of their worst first-quarter earnings seasons since the financial crisis, adding to their struggle to win over investors against a backdrop of misconduct charges, a weak economic outlook and uncertainty over Brexit.
Royal Bank of Scotland — the parent of Ulster Bank — will sound out potential buyers for Williams & Glyn after receiving a number of approaches while continuing preparations for an initial public offering of the consumer bank.
The British government has fired the starting gun on a plan to sell its stake in Europe’s largest city-centre redevelopment project around London’s King’s Cross station, in its latest disposal aimed at boosting state coffers.