(Reuters) – Part-nationalized British bank Lloyds (LLOY.L) said on Sunday that a flotation of some 630 bank branches which it has been ordered to dispose of by regulators remained an option, along with a sale of the branches.

“Lloyds has always said that an IPO (initial public offering) is an option, as part of the dual-track process,” said a company spokeswoman.

Lloyds has given the auction the code-name of “Project Verde.” European regulators ordered Lloyds to sell the branches as payback for being bailed out with taxpayers’ money during the credit crisis, which led to the British government ending up with a 40.6 percent stake in Lloyds.

via Lloyds says Verde bank branch float remains option | Reuters.