The UK’s economic development bank recorded a pre-tax profit of £144 million in the year to March, swinging a £122 million loss a year earlier. In its latest set of annual accounts, the British Business Bank said its investments and funding activities are expected to have created around 38,000 additional jobs. It said this included £1.2 billion worth of its public funding, £2.6 billion of guaranteed lending and a further £3 billion of private capital. The return to profitability and increased funding agreements come amid efforts from the Government to accelerate economic growth across the UK. Louis Taylor, chief executive of the British Business Bank, said: “In a busy and productive 2024/25, the British Business Bank amplified its role, delivering significant impact in driving economic growth and innovation and playing its part in the economic transformation of the UK’s Nations and regions.
