Regions

The opportunities available for Britain to divest itself of its shareholdings in Lloyds have improved since 2011. This means that the government would be able to sell off its shares 'over time' according to a statement by the bank chairman to its shareholders last Thursday.

The share prices of the largest retail banker in Britain have been increasing to nearly 61 pence per share. This is the amount per share that the government has pegged as 'break even' and this has raised hopes that a sale of its 39% stake would be in the very near future.

According to Win Bischoff, who presided over the bank's annual shareholder meeting, said, "2012 has been a year in which that possibility has been enhanced." This was the last time Bischoff would be addressing shareholders as chairman as he is due for retirement before the year is out.

He added, "We remain committed to operating as a wholly privately owned group, which is profitable, self supporting and dividend paying."

It must be remembered Britain shelled out nearly GBP20.5 billion into Lloyds as well as GBP45.5 billion into the Royal Bank of Scotland to avert their closure at the height of the 2007 financial crisis.