Tag: UK Financial Investments Ltd

Taxpayers to make A?11bn profit from Northern Rock

Taxpayers to make A?11bn profit from Northern Rock

The governmenta��s purchase of Northern Rock in February 2008 and its recent sale of the bank to Virgin Money, is expected to result in a net profit of up to A?11bn for UK taxpayers. According to UK Financial Investments Ltd (UKFI) which manages the Governmenta��s stakes in banks bailed out by the state during the […]

February 28, 2012 More
New chief executive for UKFI

New chief executive for UKFI

The UK Financial Investments Ltd (UKFI), the body which was set up a year ago to oversee taxpayersa�� interests in High Street banks, has announced it has a new chief executive. A senior investment banker at UBS, Robin Budenberg, is to replace John Kingman, who is set to join NM Rothschild. Mr Budenberg was heavily […]

Potential investors being sought to buy bank stakes

Potential investors being sought to buy bank stakes

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 […]

UKFI to manage Government’s investments in High Street banks

UKFI to manage Government’s investments in High Street banks

A new company called UK Financial Investments Ltd (UKFI) is to oversee the Governmenta��s shareholdings in the three High Street banks it rescued last month. It was announced recently that the UK Government is to pump A?37 billion into three of the countrya��s largest banks. A?20 billion is to be injected into Royal Bank of […]