High Street banks are quietly stepping up their efforts to lure startups away from Silicon Valley Bank UK as the beleaguered firm’s customers weigh up whether to keep their accounts open after a last-minute rescue deal by HSBC.
The Canary Wharf-based bank wrote yesterday to calm SVB UK’s customers, telling them it had poured close to £2 billion of extra liquidity into the bank and adding that it was “ready to deploy more cash and liquidity as needed.”
