HSBC Buys Silicon Valley Bank UK for £1
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HSBC BUYS
SILICON VALLEY BANK UK
FOR £1
BY GGD NEWS
HSBC UK branch, with pedestrian passing by on sidewalk. Photo in black and white, light pink nude background.
Photo Credit: GGD News x Deposit Photos
MARCH 14, 2023 | TECH NEWS
In a rescue deal, HSBC bought the UK branch of Silicon Valley Bank for a little over $1.
The private sale was made on Sunday night, and overseen by the Bank of England. An estimated $7 billion worth of company deposits were saved.