 | |
| Company type | State-owned investment and development bank (Statutory corporation) |
|---|---|
| Industry | Financial services |
| Founded | November 2020 |
| Headquarters | Edinburgh, Scotland |
Key people | Al Denholm, Chief Executive Willie Watt, Chairman |
| Owner | Scottish Government |
| Website | www |
The Scottish National Investment Bank (Scottish Gaelic: Banca Tasgaidh Nàiseanta na h-Alba) is a Scottish state-owned investment and national development bank based in Edinburgh, Scotland.[1] Although referred to as a bank, it does not do normal banking operations nor accepts deposits. The bank uses public money to fund commercial projects across Scotland with the hope that this seed capital will encourage further private investment, to help develop a fairer, more sustainable economy. £2 Billion of taxpayers money is earmarked for the bank.[2]
The bank is a public corporation,[3][4] with the only shareholder being the Scottish Government.[5] It reports to the Cabinet Secretary for Finance and the Economy.[6]
- ^ "SCOTTISH NATIONAL INVESTMENT BANK PLC - Overview (free company information from Companies House)". find-and-update.company-information.service.gov.uk.
- ^ "Scotland's national investment bank launches". BBC News. 23 November 2020. Retrieved 23 November 2020.
- ^ "Scottish national investment bank legislation published". BBC News. 28 February 2019. Retrieved 11 September 2019.
- ^ "Scottish National Investment Bank Stage 1 Report". Scottish Parliament Reports.
- ^ Donnelly, Brian (28 November 2018). "Scottish National Investment Bank chief pledges pay caps and no bail-outs". The Herald. Retrieved 11 September 2019.
- ^ "Cabinet Secretary for Economy, Fair Work and Culture". Scottish Government. Retrieved 23 November 2020.
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