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Lloyds considers £15bn cash call

Lloyds Banking Group is considering a £15bn capital raising in an effort to withdraw from the Government-sponsored asset protection scheme, according to the Financial Times.

Reports suggest that the move includes plans to sell assets, including Scottish Widows, and shrink its balance sheet.

The FT says the Government, which has a 43.5 per cent stake in Lloyds, is supportive of the plans and could inject another £6.5bn of taxpayers’ money into the bank.

A transaction is expected to launch at the end of this month or early November.

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