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British Business Bank Investments Ltd – Full Year results for the period end 31 March 2016

British Business Bank Investments Ltd reports strong results with a pre-tax profit of £40m and a dividend to the shareholder of £32m.

Sheffield and London: British Business Bank Investments Ltd, the commercial arm of British Business Bank plc, today announces its annual results for the period to 31 March 2016.

British Business Bank Investments Ltd invests in small business finance providers, generating an attractive commercial return on investment for the UK taxpayer and improving the finance markets for small, medium and mid-cap businesses.

Highlights for the full year to 31 March 2016:

  • Gross annual income of £45.5m, delivering a pre-tax profit of £40.0m
  • Gross return on average capital for the year was 7.6% pre costs and 6.7% post costs – both ahead of benchmark targets
  • Dividend of £32.0m paid to the shareholder, British Business Bank plc
  • Supporting 12,068 businesses across the UK at 31 March 2016
  • £0.7bn invested, alongside £4.6bn of private sector capital across 34 business finance providers
  • Investment asset growth of 41% for the year

Keith Morgan, Chairman of British Business Bank Investments, said:

“In the year to March 2016, British Business Bank Investments Ltd has delivered on its return objective and, at the same time, has unlocked an increased supply of finance to UK small businesses.

“Across our 34 portfolio investments we have supported a diversity of providers including leaders in the alternative finance industry, challenger banks and private debt funds. This is in addition to traditional direct lenders and asset finance providers.

“As we welcome Catherine Lewis La Torre as the new CEO, these annual results show a year of strong growth and significant momentum.”

Download the full British Business Bank Investments Ltd Annual Report and Accounts 2016

 

ENDS

For further information, please contact:

Scott Shearer

British Business Bank

Scott.Shearer@british-business-bank.co.uk

 

Tom Nutt/ Paul Southall

Seven Hills

020 7199 2200

Tom.Nutt@wearesevenhills.com

 

Notes to editors

British Business Bank Investments Ltd

British Business Bank Investments Ltd is the commercial arm of the British Business Bank. It aims to earn a commercial return by investing through providers of finance to smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any advantage from the government.

British Business Bank Investments Ltd is a wholly owned subsidiary of British Business Bank plc, the UK government’s economic development bank. Neither entity is authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

The Business Finance Guide, recently updated and jointly published by the British Business Bank and the ICAEW, with 21 other partners, is a unique guide that sets out the full range of options available for smaller businesses looking to raise finance and offers advice to help companies plan for growth.