The UK government has announced that it is to sell off another chunk of Lloyds Banking Group (LSE: LLOY) (NYSE: LYG.US) shares, just days after the bailed-out bank squeaked through the Bank of England's latest stress test.
Despite the impact of extensive streamlining and cost-cutting at part-nationalised Lloyds, the business remains on a fragile financial footing as the fallout of the 2008/2009 financial crisis continues to haunt the business.
Lloyds Banking Group (LSE: LLOY) (NYSE: LYG.US) was also caught out manipulating LIBOR. As if that wasn't enough, during the financial crisis the Bank of England offered extra cheap loans to banks for a fee.
The banking sector has taken a real beating in recent years. HSBC (LSE: HSBA), Lloyds (LSE: LLOY) and Barclays (LSE: BARC), along with most British banks, have been the targets of a not undeserved and relentless bashing from the national press.