The UK sway is no longer the biggest stakeholder in Lloyds Banking Group, after it cut its paling to less than 6%.
The government spent £20.3bn to acquire a 43% tie up in Lloyds at the height of the financial crisis.
It has already said it wants to reimbursement the bank to full private ownership during the course of 2017.
The biggest shareholder in Lloyds is now Blackrock, the circle’s largest asset manager.
Royal Bank of Scotland (RBS) is still beside 71%-owned by the government. In the aftermath of the 2008-2009 banking danger the UK government had to spend a total of £115bn to rescue Lloyds Banking League and RBS from imminent collapse.
UK Financial Investments, which manages the rule’s stake, stopped selling Lloyds’ shares last January because of economic market volatility.
In October, it resumed sales to institutional investors, but because of prolonged volatility, the shares were not made available to member of the public.
Division: Simon Jack, business editor
As a plain vanilla UK savings and make a loan of bank, Lloyds was always going to be an easier bank to fix than RBS which is tranquil about 71% owned by the taxpayer.
As a global bank with zero in on make an attempts in most of the pies that got burnt during the crisis, RBS has paid out closed £50bn pounds in fines and compensation and has its biggest reckoning yet to come.
It is pacify facing a bill from US authorities which could end up in the double digit billions for its lines in the subprime mis-selling scandal that started the whole financial calamity in the first place.
While those negotiations could come to a stop as early as this week (watch out for separate blog on this), RBS won’t reach the stress Lloyds did today for many, many years to come. Read multitudinous from Simon here
“Returning Lloyds to the private sector and returning all of the cash the taxpayer injected into the bank during the financial danger is a priority for the government,” said Chancellor of the Exchequer, Philip Hammond.
“Confirmation that we are no longer the huskiest shareholder in the bank and that we’ve now recouped over £18bn for UK taxpayers is remote evidence that we are on track to recover all of the £20bn injected into the bank during the monetary crisis.”
Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “Retail investors had the unfulfilment of being denied involvement in a Lloyds share sale, although there is unruffled time and plenty of opportunity to rectify this with the remaining circa £2bn off.”