The organisation saw a post-tax loss of £6m for the year, compared to a profit of £104m for the previous year.
However, in a post discussing the results, chief financial officer Annie Ropar pointed out that the previous year’s profit was largely the result of the bank “being the beneficiary of a substantial gain from the realisation of an investment in one of our more mature equity funds”.
She also explained that it is often typical for an institution of this kind to make losses early in its creation. This is particularly true of a bank such as the UKIB, which is seeking to provide early stage capital and other financial products to help get schemes off the ground.
Meanwhile, UKIB chief executive John Flint said the bank is seeing a pipeline that is “growing rapidly”
He continued: “In our second year, the mutual benefit our investments can deliver for both the transition to net zero and regional and local economic growth has become clear.
“We see exciting potential to support the conversion of the UK’s industrial heartlands into prosperous and sustainable green economies.”
To read the full financial report, click here.