Dealmakers Awards 2024: Bank/Funder of the Year

Bank/Funder of the Year: Royal Bank of Scotland. Sponsored by PIB Insurance Brokers

This was very close with several potential winners. Royal Bank of Scotland emerged top in a year when it provided £1.4 billion of debt to Scottish businesses across 31 transactions. It provided loan facilities and a bonding line to Carbon Capture Scotland; dedicated capital expenditure and working capital for North Star Shipping; and financing for Goals, the five-a-side football pitch operator. One judge highlighted the bank’s commitment to funding at all levels.

Highly commended

Scottish National Investment Bank, which committed £222 million to new and follow-on investments for 20 transactions in 2024. It provided a debt funding package for Ardersier Port; a cornerstone investment for Par Equity Ventures’ first institutional fund; and an equity investment in EnteroBiotix.

Shortlisted

BZ, which provided finance with Leumi for Endless to acquire logistics business ASCO. It agreed an asset-based working capital facility for helicopter services operator CHC. And it provided an asset-based lending facility and cash flow loans to Cooper Turner Beck, which makes high-strength fasteners for the energy market.

Barclays Corporate’s team in Scotland grew its client book by 15 per cent over the year. The bank strengthened its team in Scotland and increased engagement with Scottish businesses through events. It provided funding for Moray East OFTO, a cable connection to an offshore windfarm in the outer Moray Firth; acquisition finance for KKR’s £1.5bn take-private of Smart Metering Systems; and a green investment term loan facility for Buchanan Wharf Property Unit Trust.