British Business Investments, a wholly-owned commercial subsidiary of British Business Bank plc, today publishes its Annual Report and Accounts for 2020/21.
Key highlights include:
Judith Hartley, CEO, British Business Investments, said: “We are pleased to report a strong performance by British Business Investments during 2020/21 and a record year in terms of a number of new commitments and diversification of our portfolio. We have continued to make commitments throughout the pandemic, as we wanted to help ensure the UK’s smaller businesses could continue to access finance. We are now invested in every nation and region of the UK, and are supporting almost 30,000 small businesses, 85% of which are located outside London. Our financial performance has also been strong this year, with pre-tax profit of £107.4m”
In 2020/21, British Business Investments continued to deliver strongly against the four objectives set by its parent, British Business Bank plc:
Francis Small, Chair of British Business Investments, said: “As the pandemic tested the UK economy, British Business Investments continued to invest to make sure finance was available to support smaller businesses. By remaining alert to its impact on the UK’s smaller businesses and our delivery partners, we were able to adapt our response throughout the year. Consequently, we’ve achieved strong results in extremely challenging circumstances.”
British Business Investments supports the development of more diverse debt and equity finance markets throughout the UK. To increase the choice of finance for smaller businesses, British Business Investments provides funding through 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.
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British Business Investments team at MHP Communications
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About 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. They are not 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