11 November 2020: British Business Investments, a wholly-owned commercial subsidiary of British Business Bank plc, today publishes its Annual Report and Accounts for 2019/20.
Key highlights include:
British Business Investments supports the development of more diverse debt and equity finance markets throughout the UK. To increase the choice of finance for SMEs, British Business Investments provides funding to a wide range of finance providers – including peer to peer lenders, small-cap private debt funds, challenger banks, asset finance providers, equity funds-of-funds and regionally-based early stage investors.
In 2019/20, British Business Investments continued to deliver strongly against the four objectives set by its parent, British Business Bank plc:
Judith Hartley, CEO, British Business Investments, said: “We are pleased to report strong growth during 2019/20 and a record year in terms of new commitments and diversification of our portfolio. This has enabled us to broaden our reach across alternative finance markets and extend the support we provide to growing businesses outside of London and the South East. Our returns have however been affected by the negative impact of the Covid-19 pandemic in the fourth quarter. This means our overall financial return in 2019/20 is lower than in prior years though still positive.”
Francis Small, Chair of British Business Investments, said: “Excluding the exceptional impact of Covid-19 on our financial return, British Business Investments has once again delivered on its overall objectives. The Covid-19 pandemic has had a devastating impact on many of the UK’s small and medium-sized businesses. We have worked closely with our delivery partners and have increased our commitments to them, as they have continued to provide essential finance to the UK’s SMEs. It is important that this work continues so that businesses across the UK have access to the funding they need to support their working capital requirements and plans for growth.”
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Notes to Editors
About the British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.Back