Lloyds reaches landmark as government sells final shares

Treasury injected £20.3bn to prop up bank in 2008 after its troubled takeover of HBOS but now public stake stands at zero

The government has sold its remaining shares in Lloyds Banking Group in a landmark moment for the banking sector almost a decade after the £20.3bn bailout of the high street lender.

It will be confirmed on Wednesday that the Treasury has finally extricated itself from its shareholding in the bank – owner of Halifax, Bank of Scotland and Scottish Widows –which it rescued during at the depths of the financial crisis.

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