British Business Investments, a wholly-owned commercial subsidiary of British Business Bank plc, the UK’s national economic development bank, today publishes its Annual Reports and Accounts for 2017/18, its fourth year of operation.
Key highlights for 2017-18 include:
In the last financial year, British Business Investments has delivered strongly against all four of its objectives, as set by its sole-shareholder, British Business Bank plc:
British Business Investments invests in challenger banks, non-bank lenders and venture and growth capital funds to increase the choice of finance for smaller and medium sized businesses. It generates an attractive commercial return on investment for the UK taxpayer while having an economic impact by increasing the supply of capital available for small and medium sized businesses.
“Our latest investments have enabled us to increase the supply of capital to a broad range of small and medium-sized businesses, recognising their importance to the success of the UK economy.
“In the 2017/2018 financial year we have again produced tangible results, and I look forward to building on this success further as we address the challenges and opportunities of the year ahead.”
“We are pleased to report a strong set of results for the 2017/2018 financial year, a broadening of British Business Investments’ remit, an increase in profits, and an expansion of our network of finance partners.
“As a wholly-owned subsidiary of the British Business Bank, British Business Investments plays a key role in helping achieve the group’s overall objectives – increasing the size and diversity of finance markets and producing positive returns on UK taxpayers’ investments.”