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British Business Bank Swings to Profit Amid Boost in Investments
- The British Business Bank has reported a pre-tax profit of £144 million for the year to March, reversing a £122 million loss from the previous year.
- The bank's funding activities are projected to have created approximately 38,000 jobs, according to its annual accounts.
- The Government agreed to increase the bank's financial capacity to £25.6 billion to enhance annual investments to around £2.5 billion.
- Louis Taylor, the chief executive, stated that the bank amplified its role in driving economic growth and innovation in the UK.
12 Articles
12 Articles
Evening Standard
British Business Bank returns to profit amid further investments
It is the first profit the bank has delivered since 2022 after the valuation of firms it invested in were impacted by challenging economic conditions.
British Business Bank supports £6.8bn of finance for smaller business in 2024/25
British Business Bank supported £6.8bn of finance for smaller businesses in 2024/25 and made a statutory profit before tax of £144m. The bank’s annual report showed it exceeded most of its targets last year. £385.8m of debt commitments were made, beating the £382.5m target. Guarantee commitments reached £2,015.5m, above the £1,825.7m goal. Equity commitments came in at £881.8m, just under the £895.7m target, while gross deployment outside Lo…
British Business Bank returns to profit as lending surge supports UK growth - Scottish Business News
The British Business Bank has reported a return to profit, posting a pre-tax profit of £144million for the 2024/25 financial year. This marks a significant turnaround from the previous year’s loss of £122million, reflecting the Bank’s strengthening role in economic development and support for small and medium-sized businesses across the UK. Chief Executive Louis Taylor commented on the year as “busy and productive,” emphasising the Bank’s growin…
British Business Bank supports £6.8bn of SME finance in 2024/25
The British Business Bank supported £6.8bn of finance for smaller businesses last financial year, returning a statutory profit before tax of £144m. This enabled the Bank to support 24,000 businesses that had never received Bank-supported funding before, as well as 4,000 businesses that had previously received funding. In total, 84 per cent of businesses supported […] The post British Business Bank supports £6.8bn of SME finance in 2024/25 appear…
British Business Bank returns to profit with £144m gain and expanded investment role
The British Business Bank has swung back into profit with a pre-tax gain of £144 million, marking a significant turnaround for the UK’s state-owned economic development institution after two consecutive years of losses. The return to profitability comes as the bank’s investment portfolio increased by 19% to £4.7 billion, driven by stronger performance across its equity and debt holdings. In the previous financial year to March 2024, the bank had…
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