The Development Bank of Wales has reported that it has increased investment in Welsh businesses by £115m.
The development bank's results for 2017/18 have revealed that £68m was invested in Welsh businesses, compared with £56.5m in 2016/17.
A further £70m was also leveraged from private sector funds.
A total 234 businesses in Wales received funding from 1st April 2017 to 31st March 2018, resulting in the creation or safeguarding of 3,930 jobs.
The development bank now manages over £1bn of funds, including £454m for Help to Buy – Wales.
“This has been a busy and fruitful year for all of us at the Development Bank of Wales,” said Giles Thorley, chief executive at the Development Bank of Wales (pictured above).
“Our annual figures show that our role is essential to support the appetite for finance and growth in the Welsh business economy.
“With our new headquarters already secured in Wrexham, we're looking to expand our reach across all regions of Wales.
“Directly supporting the Economic Action Plan, our teams also work in partnership with the rest of the Welsh business community, investing in companies and property developments as well as helping more than 1,937 homes this year through our Help to Buy – Wales team.”
-
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
-
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
-
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
-
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
-
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
-
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
-
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
-
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
-
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
-
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
-
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...