The government has sold a £500m tranche of Lloyds Banking Group shares through the trading plan, launched in December 2014.
The government’s stake in the bank has reduced from around 40% to 24%.
The amount of money recovered for the taxpayer from the bank now totals just under £8bn.
As required by Financial Conduct Authority (FCA) rules, Lloyds Banking Group announced today that the government’s shareholding in the bank had crossed through a one percentage point threshold. This announcement notifies the market that the government has reduced its shareholding in Lloyds by a 1% threshold, in this case to below 24%.