State-owned British Business Bank Faces Annual £147 Million Loss: Reveals Shocking Financial Downturn
The government-owned British Business Bank (BBB 23) has swung to a pre-tax deficit of almost £147 million annually. The lender for economic development claims that broader economic issues caused a decline in the value of the companies it has invested in. The bank claims that, “despite the difficult economic environment,” finance agreements of £1.6 billion…