Lloyds Banking Group has announced a plan to sell off 25% of its revived TSB business in a stock market flotation at the end of June.
At least some of the shares should be made available to the public, according to the bank.
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This announcement comes as it reported a 22% rise in underlying first quarter pre-tax profit to £1.8bn ($3bn).
Chief executive António Horta-Osório said: "We are supporting and benefitting from the UK economic recovery and are delivering better underlying profitability as well as improved returns for shareholders, from a stronger, lower risk balance sheet."
Lloyds must sell the TSB business, valued by analysts at around £1.5m`, as a condition of its £20.5bn bailout in 2008.
Originally, the bank had planed to sell assets to the Co-op Group’s banking arm but, after the deal collapsed last year, Lloyds decided to hive off 632 branches and to revive TSB as a separate brand, 18 years after the two banks merged.
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