UK Financial Instruments (UKFI), the body that manages the Government's shares in some of Britain's biggest banks, will today outline its plans for the future of its investments in the state-owned lenders, reports The Times.
UKFI, which is in charge of the Government's 70 per cent stake in Royal Bank of Scotland and its 43 per cent holding in Lloyds Banking Group, will release its first report and accounts. It is expected to downplay expectations of a quick share sale, warning it could be years before the Government can fully extricate itself from the troubled banking sector. The Government body is expected to say it will begin to sell its shares only when market confidence has been restored. Full story...
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