Potential investors being sought to buy bank stakes

a�?Potential

It has been reported that the Government is in talks to sell off its stakes in part-nationalised banks: Lloyds Banking Group and Royal Bank of Scotland (RBS).

UK Financial Investments Ltd (UKFI), which was established to oversee taxpayera��s interest in UK banks, is believed to be sounding out investors abroad.

However, a speedy sale is unlikely since UKFI is expected to secure the best outcome for the taxpayer and the banks involved.

UKFI manages the Government’s 43.5% stake in Lloyds Banking Group and its 70% stake in RBS.

Chancellor Alistair Darling has long been vocal of the fact that he intends to return the part-nationalised and nationalised banks back to the private sector.

However, with regard to nationalised Northern Rock, it was reported last month that the Government is planning to sell the lender by the end of the year.

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