Lloyds Banking Group PLC (LSE:LLOY) has announced the completion of its £2 billion share buyback scheme.
A total of 3,686,477,708 ordinary shares were repurchased through the programme, Lloyds said on Thursday, which was unveiled in February.
This followed the final repurchase of 34,756,600 shares on Wednesday for an average price of 54.6p each, the lender added.
Lloyds had launched the buyback after reporting a jump in profit during its last financial year, highlighting a “strong capital position” at the time, when cash sat at £78.1 billion.
It comes as speculation has built over Lloyds’ exposure to potentially costly reparations as a result of a probe into the motor finance market by the Financial Conduct Authority more recently.
Lloyds’ liabilities over past commission payments to motor dealers are estimated to be around £2.5 billion, according to Jefferies analysts.