Silicon Valley Bank

Companies, In the World, World economy 28th March 2023

First Citizens’ purchase of SVB confirms importance of avoiding irrational fear and discriminating between institutions, regardless of size

Bankinter : US banks celebrate the purchase of Silicon Valley Bank/SVB by First Citizens (FC) with a +2.5% rise in yesterday’s session. Positive highlights: First Citizens (+53.7%), First Republic (+11.8%), Bank of America (+4.9%) and Citigroup (+3.8%). Analysis team’s view: This is an interesting deal for First Citizens and good news for US banking and the global financial sector. Our reasoning is as follows: (1) FC acquires SVB’s assets (loans…

Companies, In the World 15th March 2023

HSBC buys UK subsidiary of Silicon Valley Bank for £1

Singular Bank | HSBC has bought the UK subsidiary of Silicon Valley Bank (SVB) for £1 following the collapse of the regional bank. The purchase has been made through a private rescue provided by the UK government and the Bank of England. HSBC, Europe’s largest bank operating mainly in the Asian market, estimates the tangible equity of SVB’s UK subsidiary at around £1.4 billion. The money of all SVBUK depositors…