LBG bank reveals sale of US mortgage-backed assets | Bangkok Post: news

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LBG bank reveals sale of US mortgage-backed assets

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Lloyds Banking Group has sold US mortgage-backed securities for pound sterling3.3 billion ($5.0 billion, 3.8 billion euros), boosting its capital funds in the process, the British state-rescued lender said on Friday. 

Lloyds Banking Group has sold US mortgage-backed securities for £3.3 billion ($5.0 billion, 3.8 billion euros), boosting its capital funds in the process, the British state-rescued lender said on Friday.

The sale is part of a programme to sell non-strategic assets and the proceeds will be used to strengthen its capital by pound sterling1.4 billion, LBG said.

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