Episode Details

Scotland’s National Investment Bank just hit a record loss of £137.5 million, sparking fresh scrutiny over whether public money is being wisely spent. Launched in 2020 to back green tech, innovation, and equality, the bank’s early years have been rocky — with losses mounting each year. Critics demand accountability, but CEO David Ritchie defends the strategy, pointing to tough market conditions and the bank’s mission to take on higher-risk, long-term bets that traditional lenders avoid. While the numbers are grim, the bank is pouring in its biggest capital commitment yet — £374 million — to support Scottish startups with patient, impact-driven funding. The message: some losses are expected, but the vision remains bold.

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