Governments around the world except for Switzerland and the US are sitting on combined losses of $10.8bn from their direct shareholdings in banks, despite the recent rally in equity markets. However, Switzerland sold its 9% UBS stake for a SFr1.2bn ($1.1bn) profit last week, while the US government is sitting on a paper profit of almost $11bn on its 34% stake in Citigroup, its only direct holding in a large financial institution. The UK incurred the biggest losses – about £3.3bn – relating to the government’s 43% and 70% stakes in Lloyds and RBS respectively.

This entry was posted by Gwen Robinson on Monday, August 24th, 2009 at 5:07 and is filed under Capital markets, M&A. Tagged with citi, Lloyds Banking Group, rbs. Edit this entry.