The British government has begun the process of selling off its stake in RBS and Lloyds Bank, which it acquired as part of a bailout of the two distressed banks.
RBS - which owns Ulster Bank - is 81% owned by the British government, while Lloyds - which owned the now defunct Halifax Bank of Scotland Ireland - is 39% owned by the British state.
UK Financial Investments - the government owned company that holds the shares in the two banks - has issued a call for tenders for financial advisors for the sale of shares in the banks.
The British government is keen to show Britain's part-nationalised banks are recovering from the 2008 financial crisis and a profitable sale of part of its 39% stake in Lloyds would allow it to claim at least partial success ahead of the next election in 2015.
Shares in Lloyds rose 2% today, hitting 64.3p, their highest level for over two years, trading comfortably above the 61.2p level which the government regards as its break-even.
Expectations of an imminent sale of Lloyds shares have intensified since they hit the break-even price in May.
Industry sources have said Britain's finance ministry wants the shares to be trading consistently above that level before it starts selling.
The sources told Reuters News Agency that a sale of up to 10% of Lloyds shares could happen as early as this year.
However, a sale of the Biriths government's 81% stake in RBS is still a long way off and the Treasury is examining the merits of breaking up the bank.
In an 'Invitation to Tender' document on UKFI's website, interested banks are asked to register their interest by 1 July and to submit their full proposals by 8 July.
