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A spokesman said: "This reflects the hard work undertaken over the past four years to transform the group into a simple, low-risk and customer-focused bank.
Even so, after the stake reduced further, Lloyds said: "This reflects the hard work undertaken over the last four years to transform the group into a simple, low-risk and customer-focused bank that is committed to helping Britain prosper".
"This reflects the hard work undertaken over the last four years to transform the group into a low-risk and customer-focused bank that is committed to helping Britain prosper".
The paper currency of Isis's mortal foes has helped transform the group from the scattered remnants of the Iraq civil war to the most cashed-up and capable terrorist organisation in the world.
A spinoff of the automobile unit could transform the group into an industrial holding company if, as some analysts expect, it eventually pursues stock market listings of more of its core units.
Green was brought in from electronic components business Premier Farnell in July last year to transform the group's fortunes following its near collapse in 2011 in the wake of a debt-fuelled expansion.
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Twelve months ago they were changing hands at around 150p and Fox was being lauded for transforming the group.
The idea of transforming the group from a hard core of plucky vigilantes into a much larger network of part-time citizen inspectors sprang from an unexpected source.
By the end of the year, membership had rocketed, transforming the group from a provincial curiosity to a real and present danger to politics as usual.
Over the last nine years, since Alcest's first demo tape was released, he has transformed the group into a lovely, slow-motion pop band.
Overall, the group earned 3.2 trillion rupees, or $67.4 billion, in revenues in 2009-10 (see chart) and 82 billion rupees in profits.Mr Tata has transformed the group.
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Justyna Jupowicz-Kozak
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