Lloyds sells £1bn of loans

Lloyds Banking Group has launched the sale of £1bn of commercial property loans, according to a report in Reuters, citing sources "with knowledge of the matter."Reuters said that the part-nationalised lender's sale of loans is being handled by investment bank JP Morgan Cazenove.News of the sale of loans comes the day after Lloyds announced the departure of two of its boardroom members, finance director Tim Tookey and Scottish Widows' deputy chairman Lord Sandy Leitch. ---RG