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Bank claim: Taxpayers to get money back on Lloyds

Taxpayers could soon get their money back that was used to save Lloyds Banking Group during the financial crisis.

Lloyds' share price passed its break even price of 61.2 pence during morning trade on May 17th, meaning that the government could look to sell it off.

Its rise in share prices follows chief executive officer Antonio Horta Osorio's claim that the bank could soon return to profitability.

As the bank had not been making profits, Mr Osorio has had to push back his annual bonus for a few years.

The bank is currently 39 per cent owned by the taxpayer after the government had to spend £20.5 billion to bail out the bank in 2009.

Should the government begin selling off shares at this point then taxpayers could profit from this, which could go towards making up for the amount of time that they have had to wait for public funds to be returned by the bank.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801587075-ADNFCR

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