Loss of 17.6bn if banks sold
TAXPAYERS would make losses of £17.6bn if the government sold out of Lloyds Banking Group and Royal Bank of Scotland (RBS) at today’s prices, Exane BNP Paribas said yesterday.
The figures indicate that any sell-off of the government’s stake in either Lloyds or RBS is unlikely ahead of the next general election.
BNP Paribas calculated if the government sold its stakes in Lloyds and RBS now, it would lose £10.9bn, and £6.7bn respectively. UKFI, the body which is managing the shares, has said it intends to sell the stakes back to the market as soon as possible.