The UK government has reduced its holding in Lloyds Banking Group to less than 2%, putting the lender on track to be in full private ownership within weeks.
The government has now recovered over £20 billion of the £20.3 billion UK taxpayers injected into Lloyds during the financial crisis, the Treasury said in a statement.
UK Financial Investments Limited (UKFI), which manages the UK government's stake, resumed share sales in October, having halted them for almost a year due to market turbulence.
It said today that its stake stands at 1.97%, down from 2.95% on March 15.
The UK government spent more than £136.6 billion rescuing some of Britain's biggest high street lenders at the height of the financial crisis, including Royal Bank of Scotland and Lloyds.
But so far it has only managed to recoup half of that money.
