LONDON, Aug 1 (Reuters) - The chief executive of LloydsBanking Group said it is now in a position for Britainto start selling its 20 billion pound stake in the lender,although the timing is up to the finance ministry.
"It is up to the government to decide how and when to do it. I believe we have completed the first phase ... the share priceis now in a position where the government can return taxpayers'money at a profit," Chief Executive Antonio Horta-Osorio toldreporters on a conference call.
Lloyds said on Thursday it expects to meet its targets oncost savings, capital strength and margins earlier thanexpected, adding to an expectation Britain may start selling itsshares this month or next.