You've found ‘Lloyds Bank’

New Bank Funding And Asset Sales

Lloyds And RBS Banks

Lloyds Banking Group and Royal Bank of Scotland will get another £31 billion from the government and have both agreed to sell hundreds of businesses and branches to appease the EU competition concerns over state aid.

The deal announced yesterday allows the UK to reduce it’s holdings in Lloyds and RBS which are a potentially critical tying up of funds as Britain struggles with a budget deficit.

Months of uncertainty were ended as Lloyds revealed that they would drop out of the government insurance scheme for bad debts by raising £13.5 billion in the world’s greatest ever rights issue, as part of a capital raising plan aimed at sourcing £21 billion. (more…)