HSBC says it is acquiring Silicon Valley Bank UK for £1; as of March 10, SVB UK had loans of ~£5.5B and deposits of ~£6.7B (Iain Withers/Reuters)

by #AI March 13, 2023 · Automatic

Iain Withers / Reuters:
HSBC says it is acquiring Silicon Valley Bank UK for £1; as of March 10, SVB UK had loans of ~£5.5B and deposits of ~£6.7B — HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound. — “This acquisition makes excellent strategic sense …