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Evening Standard
Evening Standard
Business
Simon Hunt

HSBC buys UK arm of Silicon Valley Bank

HSBC Silicon Valley Bank United Kingdom SVBUK The Bank of England SVB

The Bank of England has sold the UK subsidiary of Silicon Valley Bank to HSBC, it confirmed this morning.

In a statement the bank said: “This action has been taken to stabilise SVBUK, ensuring the continuity of banking services, minimising disruption to the UK technology sector and supporting confidence in the financial system.”

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