HSBC said the transaction “completes immediately.” The acquisition will be funded from existing resources. The bank added in a statement: As at 10 March 2023, SVB UK had loans of around £5.5 ...

In a statement, HSBC CEO Noel Quinn said the acquisition meant that “SVB UK customers can continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety ...

HSBC said Monday its ring-fenced subsidiary HSBC UK Bank will acquire the British unit of failed lender Silicon Valley Bank, owned by SVB Financial (NASDAQ:SIVB), for £1.

First Citizens BancShares, which acquired the failed Silicon Valley Bank after the federal government seized the firm in March, is suing British banking giant HSBC for allegedly illegally hiring ...

According to CNBC, HSBC U.K. has agreed to acquire SVB U.K. for £1 ($1.21). However, the assets and liabilities of SVB U.K.'s parent firm are excluded from the transaction.

HSBC, Europe's biggest bank, has acquired the U.K. arm of collapsed U.S. tech startup lender Silicon Valley Bank (SVB) for a symbolic £1 ($1.20), securing the assets of British tech firms.

HSBC Holdings plc agrees to acquire SVB Financial Group's UK-based business for merely £1. Although a distressed asset, SVB's UK-based segment is a going concern with an accounting surplus.

Silicon Valley Bank’s British subsidiary will be acquired by the banking giant HSBC, the Bank of England announced on Monday as it emphasized the stability of the nation’s banking system.

Two weeks after First Citizens acquired SVB on March 27, HSBC poached 42 bankers on Easter Sunday and brazenly took and misused SVB’s confidential, proprietary and trade secret information, ...

First Citizens BancShares Inc , which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of poaching more than 40 of the failed bank's employees in ...

HSBC has scooped up the UK arm of failed Silicon Valley Bank, ... safety and security of HSBC.” “This acquisition makes excellent strategic sense for our business in the UK,” he said.