British Business Investments, a wholly-owned commercial subsidiary of British Business Bank plc, today publishes its Annual Report and Accounts for 2022/23.
Key highlights include:
Louis Taylor, Chair, British Business Investments, said: “In challenging economic times, the importance of British Business Investments’ role has been demonstrated once again. Against an uncertain backdrop, we have continued to support the UK economy by bolstering the finance options that are available to smaller businesses, making new commitments totalling £386m in the past financial year. We have also generated a strong financial return for the British Business Bank Group, with profit before tax of £38.1m, and a 6.3% five year adjusted return on average capital employed.”
In 2022/23, British Business Investments continued to deliver strongly against its four strategic objectives:
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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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.