Photo: The Indian Express

HSBC Buys SVB Arms Securing Deposit Of UK Customers

The British government on Monday said it had facilitated a private sale of the UK arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary'. With this deal, the Bank of England would help for 1 pound sterling, or around Rs 99. The deal is not expected to impact HSBC's global balance sheet but will sharpen exposure in its home market, securing 3,000 SVB UK customer's deposit.

Mon, 13 Mar 2023 - 03:25 PM / by Varsha Joshi

Tags: HSBC, uk government, Silicon Valley Bank, business

Courtesy: Hindustan Times