As the fallout from the collapse of Silicon Valley Bank is starting to spread around the world, experts say the Indian banking system is unlikely to witness any major spillover effects. However, there will be some impact on the sentiment of the market. “The collapse of SVB will not have any effect on the Indian … Read more
Some financial industry executives and investors were growing increasingly concerned on Saturday that the collapse of Silicon Valley Bank could have a domino effect on other U.S. regional banks if regulators did not find a buyer over the weekend to protect uninsured deposits. Startup-focused lender SVB Financial Group became the largest bank to fail since … Read more
British clearing bank The Bank of London is considering a rescue bid for the UK arm of collapsed U.S. bank Silicon Valley Bank, Sky News reported on Saturday. The British bank has appointed investment bank Perella Weinberg Partners to advise it on its interest in Silicon Valley Bank UK Limited (SVB UK), the report said, … Read more
A few banks are emerging as potential beneficiaries as some startups withdraw funds from Silicon Valley Bank. The chief executive officer of Mercury, Immad Akhund, tweeted that his “DMs + emails are going a little crazy” and posted a link for those seeking to open an account. The company describes itself as “financial technology company, … Read more
Shares of SVB Financial Group tumbled 40% in premarket trading on Friday, piling on to steep losses logged a day earlier after the embattled lender’s plans for a capital-raise fueled concerns about the strength of its balance sheet. The stock was trading at $63.99 before the bell and was on course to open at its … Read more