State Minister of Water Resources Zahid Faruk holds a press briefing at Pani Bhaban conference room in the capital on Sunday marking ‘World Water Day-2022’. NN photo

Britain begins sale of stake in bailed-out Royal Bank of Scotland

Britain’s government has begun selling its majority stake in bailed-out Royal Bank of Scotland (RBS) to reduce state debt and kick-start the lender’s full return to the private sector, the Treasury said Tuesday.The government has sold 5.4 percent of RBS for £2.1 billion ($3.3 billion, 3.0 billion euros), a statement said. Royal Bank of Scotland was rescued with £45.5 billion of public money in 2008 at the height of the global financial crisis.The world’s biggest bank bailout handed Britain’s government...

5 Aug 2015, 12:00 am