Stoke on Trent City Council has expressed its confidence in recovering £5m frozen in the Icelandic bank, Landsbanki.

In an update for councillors, director of general service, Julie Gill, has said the £5m represented just 6% of the total £90m the city council had invested in banks and building societies.

The council aimed to generate around £4m a year from investments, and last year, managed to earn £6.4m