Wholly-Owned Investments 

UKFI’s activities in relation to the management of the Wholly-Owned Investments are set out in the UKFI Framework Document - Revised October 2010 Version  and UKFI Investment Mandate - Revised October 2010 Version

The ‘Wholly Owned’ investments comprised Northern Rock plc and UK Asset Resolution Ltd (UKAR), until the sale of Northern Rock plc to Virgin Money on 1 January 2012.  UKAR was formed during 2010 to integrate the activities of Northern Rock (Asset Management) plc and Bradford & Bingley plc.  UKFI managed the Government’s 100% shareholding in Northern Rock plc from its formation on 1 January 2010 until its sale.

Government investments as of 1 January 2012 comprise:
  • £19.7bn of loans in Northern Rock (Asset Management);
  • £8.4bn of Working Capital Facility (WCF) in Bradford & Bingley plc with an additional £18.4 billion statutory debt comprising £15.7 billion owed to the Financial Services Compensation Scheme (FSCS) (via a loan from HM Treasury) and £2.7 billion owed directly to HM Treasury, reflecting the value of the retail deposits which were transferred to Abbey National plc.
  • £150m of Tier 1 capital notes in Virgin Money following their acquisition of Northern Rock plc on 1 January 2012.

26th March 2014

UKFI today announces the disposal of approximately 7.78% of Lloyds Banking Group plc
Further to its announcement on 25 March 2014, UKFI announces the successful completion of the disposal of part of HM Treasury’s shareholding in Lloyds Banking Group plc (the “Company”). The disposal was effected by way of a Placing (the “Placing”) of shares (the “Placing Shares”) by way of an accelerated bookbuilding process to institutional investors. download [129,6 KB]

25th March 2014

UKFI announces its intention to dispose of approximately 7.5% of Lloyds Banking Group plc
UKFI announces its intention to sell a further part of HM Treasury’s shareholding in Lloyds Banking Group plc (the “Company”). The disposal of these shares (the “Placing Shares”) will be by way of a placing to institutional investors (the “Placing”). download [26,2 KB]