THE Development Bank of Wales, which has its headquarters in Wrexham, has invested £80m across the country.

In the financial year ending March 31, 2019 the Development Bank of Wales invested a total of £80m, an increase of nearly 18 per cent on the year before.

The development bank’s investments were spread across the country, with £37m invested in South Wales £26m in mid and West Wales, and £17m in North Wales. The opening of its Wrexham headquarters in September also led to more deals completing in North Wales.

Giles Thorley, Chief Executive of the Development Bank said: “I am pleased that so many businesses right across Wales have been able to access the right finance to support their journey this year. We have increased our delivery capability and continue to invest in the customer experience as we progress with our business transformation.

"We may be facing a time of uncertainty, but the Development Bank of Wales will be working to ensure that whatever form Brexit may take, Welsh businesses will be supported. I am proud to work with a dedicated team that want to have a positive impact on the Welsh economy.”

Economy and Transport Minister Ken Skates said: “This has been a landmark year for the Development Bank and I congratulate it on achieving its five year annual investment target of £80 million in just eighteen months.

“The Bank, both directly and in partnership with Business Wales and private investors, has added significant value to the Welsh economy, with the increased activity in the property market particularly pleasing.

“The past 12 months have also seen the Bank move to its new headquarters in Wrexham, further demonstrating the Welsh Government’s commitment that the Bank truly serves the whole of Wales and strengthens our regional economies. There is no doubt that the Bank has succeeded in this regard, supporting businesses of all sizes from across Wales to grow and prosper and I look forward to seeing the next twelve months build on these successes as the Bank helps yet more Welsh businesses reach their potential.”

The annual report will be published July 2019.