Lloyds Banking Group mulls cut-price branch sale

Lloyds Banking Group is reportedly mulling a cut-price sale of the 632 bank branches it has to offload as a penalty for receiving state aid.

The Project Verde business was expected to fetch between £1.5 billion and £2 billion last year but with bank shares under pressure market sources told the Sunday Times it may be willing to lower the price by as much as 50%.