The UK government has reduced its stake in Lloyds Banking Group to just below 3%, putting the lender on track to be back in private ownership within the next few months.
UK Financial Investments Limited (UKFI), which manages the government's stake, resumed share sales in October, having halted them for almost a year due to market turbulence.
UKFI said it had reduced its stake by about 1% to 2.95% in an announcement today.
The government was left with a 43% stake in Lloyds after a £20.5 billion taxpayer-funded bailout during the 2007-09 financial crisis.
