Lloyds Banking Group has begun the process of repaying the taxpayer after raising almost £4bn from its shareholders through a rights issue.
City minister Lord Myners said the success of the cash call was a sign that optimism was returning to the banking sector, according to The Guardian. "To imagine, three months ago, that we could have raised primary equity for a major UK bank experiencing the sort of bad debts that Lloyds was announcing is extremely difficult," Myners told BBC Radio 4's Today programme. Full story...
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