Business · 5 days ago
Scottish National Investment Bank reports £138m net loss
The state-owned Scottish National Investment Bank announced a £138m net loss for the last financial year, calling the figures "painful." This figure incorporates £65m in losses that have already occurred, stemming from three initial investments that were unsuccessful, such as the laser company M Squared, located in Glasgow. Chairman Willie Watt said the bank has learned lessons and is improving its investment processes and criteria.
Reported by BBC · How we write briefs