June 5, 2018 / 6:30 AM / 6 months ago

RBS share sale important for putting financial crisis in the past - Hammond

Britain's Chancellor of the Exchequer Philip Hammond attends a meeting of regional leaders of the financial and professional services in Halifax, Britain, May 17, 2018. REUTERS/Craig Brough

LONDON (Reuters) - The Chancellor of the Exchequer said on Tuesday that the sale of a 7.7 percent stake in RBS (RBS.L) was an important step forwards after a financial crisis which led to a government bailout of the bank in 2008.

“This sale represents a significant step in returning RBS to full private ownership and putting the financial crisis behind us,” Philip Hammond said in a statement.

“The government should not be in the business of owning banks.”

Reporting by Alistair Smout; editing by Guy Faulconbridge

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