TechScape: How Silicon Valley Bank UK was saved
https://www.theguardian.com/technology/2023/mar/14/techscape-silicon-valley-bank-uk
In this week’s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. But the tech sector isn’t out of trouble yet
Last week, if you had heard of Silicon Valley Bank UK, you probably worked in tech. The bank had only been spun out in to a separate entity last summer, after its few thousand corporate customers pushed it over a regulatory threshold, and while SVB had grown to almost hold £10bn of deposits, with £5.5bn of outstanding loans, it was very much a specialist player.
TechScape: How Silicon Valley Bank UK was saved
Mar 14, 2023, 12:25pm UTC
https://www.theguardian.com/technology/2023/mar/14/techscape-silicon-valley-bank-uk
> In this week’s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. But the tech sector isn’t out of trouble yet
> Last week, if you had heard of Silicon Valley Bank UK, you probably worked in tech. The bank had only been spun out in to a separate entity last summer, after its few thousand corporate customers pushed it over a regulatory threshold, and while SVB had grown to almost hold £10bn of deposits, with £5.5bn of outstanding loans, it was very much a specialist player.