CAN THE UK MAKE A PROFIT ON ITS BANK STAKES TOO?

first_imgTuesday 7 December 2010 8:56 pm The US Treasury invested a total of $45bn to bail out Citigroup (headed by Vikram Pandit), taking control of 27 per cent of the banking giant. The government has slowly whittled down its stake, with the bank paying back $20bn in preferred stock earlier this year. Last week the government sold 2.4bn shares for $10.5bn. It now estimates it has a cumulative $12bn profit from the bailout, including interest and dividends of $2.9bn.The Government currently holds a total of 27.6bn ordinary shares in Lloyds (headed by Eric Daniels), including 15.8bn shares taken up in Lloyds’ rights issue. This is equivalent to 41 per cent of total share capital. The total government outlay was £20.3bn. Lloyds’ current market cap is £45bn, valuing the government’s stake at £18bn, meaning an immediate sale would lose the taxpayer in the region of £2bn.The Government currently holds a total of 90.6bn shares in RBS (headed by Stephen Hester), including 51.0bn non-voting B shares. This is equivalent to 68 per cent of voting share capital and 83 per cent of total share capital. The total government outlay was £45.5bn. RBS’ current market cap is £45bn, valuing the government’s stake in the bank at £37bn – meaning an immediate sale would lose the taxpayer £8bn. whatsapp Show Comments ▼ Tags: NULL More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Share CAN THE UK MAKE A PROFIT ON ITS BANK STAKES TOO? whatsapp last_img