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UFKI to reveal strategy for exit from stakes in RBS and Lloyds
UK Financial Investments – the body which manages the government’s stakes in recapitalised banks – will unveil its exit strategy for Royal Bank of Scotland (RBS) and Lloyds Banking Group today.
John Crompton, UKFI’s head of market investment, will outline its plans to return the stakes to the public sector at a meeting this morning, alongside its first annual report.
UKFI is unlikely to present a timetable for sale, after saying last week there would be no quick exit from its 70 per cent stake in RBS and 43 per cent of Lloyds.
But it will outline a series of options for disposing of the stakes, including the possible use of exchangeable bonds. A spokesman said it would be some time before a sale can be made.