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Lloyds bank continues disposal of non-core businesses

Ahead of a potential cash call in the short term, Lloyds bank has today announced the sale of its investment management division to Rathbone Bros for £35.4 million. The move was rumoured last week with the revelation that the company was in talks with Rathbone's and it now appears that the deal has been done, bringing in additional capital to the Lloyds bank business.

This particular disposal comes on the back of Lloyds bank sale of its Halifax estate agency for a nominal one pound as the management continues to focus on the core operations. This ongoing change in the formation of Lloyds bank has caught the attention of some analysts in the city and more and more are now beginning to turn positive on the group ahead of a potential cash call. However, it is the potential £10 billion plus cash call which will dictate the medium to long-term direction of the share price and indeed the medium to long term potential for the group.

We also await news on whether the UK government is prepared to release Lloyds bank from the asset protection scheme for a nominal penalty or push through with plans to claim up to £1 billion to terminate the agreement.

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