The Scottish National Investment Bank's income (£34.5m) has exceeded its operating costs (£16.2m) for the second year running.

That income figure was up 78.8% year-on-year, while its portfolio grew to 42 businesses and projects during the period from 1 April 2024 to 31 March 2025.

During the development bank's fourth full year of operation, it committed £145m and “crowded in” a further £324m.

Since launch in November 2020, it has committed more than £785m and crowded in a further £1.4bn.

This financial year also saw the bank’s subsidiary, Scottish Investments, secure phase one authorisation from the Financial Conduct Authority - permissions which enable it to arrange investment deals, therefore crowding in more private investment, delivering on its third-party capital strategy.

Howeve

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