The Scottish National Investment Bank reported a pre-tax loss of £14.6 million for the financial year ending March 31, 2024, down from £20.2 million the previous year, primarily due to an £8 million loss associated with the failed Circularity Scotland Limited, which fell into administration. Despite this loss, the bank's income surged by over 80% to £19.3 million, allowing it to exceed its operational costs of £16.1 million for the first time since its inception. The bank committed £224.6 million in new investments and facilitated an additional £400 million in private capital, bringing its total capital commitment since November 2020 to approximately £640 million. Chairman Willie Watt emphasized the bank's role as an impact investor, focused on driving economic growth and social impact within a challenging macroeconomic environment. CEO Al Denholm highlighted the bank's maturation and positive trajectory, noting the potential for continued income growth as the investment portfolio expands. The ongoing delay of the UK-wide deposit return scheme until October 2027 remains a significant external challenge for the bank's operations.