Stock market quotes, forex, financial news, forex tools –

The government of the foggy Albion is getting rid of assets

 Breaking News
  • Trump and Xi Jinping came to an agreement! According to the reports from Xinhua, US President Trump and China’s President Xi Jinping have agreed on additional tariffs from the United States. During the G-20 summit in Argentina, the...
  • Qatar leaves OPEC on 1, January Next year Qatar will leave OPEC. The Minister of Energy of the Middle Eastern state said that the country was not going to fulfill any obligations when the clock chimed...
  • Brent rose by 5% to $ 62.5 On Monday, the price of the major benchmark crudes is growing due to the news from the main supplier countries. February contracts of Brent have risen by 5% to $...
  • Fiat invests in the national auto industry An automaker Fiat is going to invest 5 billion Euros in the improvement of the production in Italy. It is planned to absorb investments in the next four years. The...
  • General Motors will cut staff and close several plants An auto giant General Motors is going to cut about 15% of its employees and a quarter of the management team. These changes apply only to the United States. Thus,...
The government of the foggy Albion is getting rid of assets
April 03
08:00 2017

Lloyds, one of the largest banks in the UK, gradually is being returned to the private ownership. During a serious crisis four years ago, the leading retail bank of the United Kingdom was in the verge of bankruptcy. Then the British government decided to save Lloyds by buying 39% of the shareholding.
From the end of 2013, the UK Ministry of Finance progressively has been selling off assets owned by the government, returning the bank to private hands. The purchase was quite profitable. 20.3 billion pounds were spent in order to save the giant, more than 20 billion pounds sterling has been returned to the treasury. This amount includes both the value of shares and the amount of dividends paid by the bank.
The amount of the last deal with Lloyds shares is not disclosed. However, it is known that at present the Ministry of Finance owns a 1.41 billion block of shares. This means that the share of the state participation in the Lloyds Banking Group is currently 1.97%.
Simon Kirby, Deputy Minister of Finance of Great Britain said that the government had come close to the full return of taxpayers’ funds to the treasury. He meant the sum that had been spent in order to save the bank. It is also reported that all the money earned in such a way is used to pay off the public debt of the United Kingdom.
Positions of the banking group Lloyds are quite stable at the moment; a net profit of 2.51 billion pounds was gained in 2016. All shareholders will be paid dividends at the rate of 3.05 pence per share.
Of course, private investors should pay attention to this sort of assets; the time for its purchase is the most suitable now.


The material was prepared with the participation of  Vladimir Haritonov,
a leading analyst of the brokerage company VOSPARI.

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment