5

HSBC To Buy UK Arm of Silicon Valley Bank For $1.2 - Slashdot

 1 year ago
source link: https://slashdot.org/story/23/03/13/0712254/hsbc-to-buy-uk-arm-of-silicon-valley-bank-for-12
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
neoserver,ios ssh client

HSBC To Buy UK Arm of Silicon Valley Bank For $1.2

Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe offtopicflamebaittrollredundantoverrated insightfulinterestinginformativefunnyunderrated descriptive typodupeerror

Do you develop on GitHub? You can keep using GitHub but automatically sync your GitHub releases to SourceForge quickly and easily with this tool so your projects have a backup location, and get your project in front of SourceForge's nearly 30 million monthly users. It takes less than a minute. Get new users downloading your project releases today!

Sign up for the Slashdot newsletter! or check out the new Slashdot job board to browse remote jobs or jobs in your area.
×

HSBC To Buy UK Arm of Silicon Valley Bank For $1.2 (bbc.com) 11

Posted by msmash

on Monday March 13, 2023 @03:12AM from the breaking-news dept.
HSBC, in a stock exchange filing: HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for 1 pound ($1.2). As at 10 March 2023, SVB UK had loans of around $6.6 bn and deposits of around $8.1bn. Noel Quinn, HSBC Group CEO, said, "This acquisition makes excellent strategic sense for our business in the UK. It strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life-science sectors, in the UK and internationally. We welcome SVB UK's customers to HSBC and look forward to helping them grow in the UK and around the world. SVB UK customers can continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC. We warmly welcome SVB UK colleagues to HSBC, we are excited to start working with them."

report

Recommend

About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK