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The Development Bank of Wales has invested £80m across the nation over the last year - with £17m of that with firms in North Wales.

The bank yesterday revealed its full year figures up to March 31 which showed an increase of nearly 18% on the year before.

There were a total of 420 investments completed across the whole of Wales during the year – 30% more than the previous 12 months.

The opening of its Wrexham headquarters in September also led to more deals completing in North Wales - reaching a total of £17m. That is just over 21% of the total money invested by the bank.

There was £37m invested in South Wales and £26m in mid and West Wales.

(Image: Development Bank of Wales)

The amount of private sector investment leveraged by the bank’s activities reached £126m.

Since extending its loan repayment terms to 10 years, the bank has also seen an increase in demand for patient capital with 97 customers taking advantage of the enhanced terms.

There were 220 micro loans completed in the year and the rising demand has been attributed to service improvements.

There was significant growth in the bank’s challenge to support the property sector in Wales with investments reaching £24 million, an increase of 54% on the previous year.

The value of funds to support the construction sector now totals £177m with the launch of the £55m Wales Commercial Property Fund.

During the year the bank launched Angels Invest Wales alongside the £8m Wales Angel Co-Investment Fund.

The refreshed offer gives business access to more than 100 angel investors and syndicates through its online platform. Deals of more than £3m were facilitated in the year.

Giles Thorley, chief executive of the Development Bank said: “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: “The past twelve 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.”