Hot: HSBC buys SVB bank in UK for £1

Tram Ho

Nóng: HSBC mua lại ngân hàng SVB ở Anh với giá 1 bảng - Ảnh 1.

The British government has just announced that HSBC Holdings has acquired a branch of Silicon Valley Bank (SVB) in this country to protect depositors and the technology industry.

” This morning, the Government and the Bank of England (BoE) arranged the sale of the UK branch of SVB, without the use of taxpayers’ money. Yesterday I said I would protect the domestic technology industry and We are urgently delivering on that promise ,” British Finance Secretary Jeremy Hunt said.He explained the above move is because the UK’s technology sector is among the world’s leading and plays an important role in the economy, supporting hundreds of thousands of jobs. Besides, the government’s move will also protect depositors’ money at this bank.The price of the deal announced by HSBC Holdings is 1 pound (about 28,551.85 VND). This deal “will strengthen our commercial banking business and help us better serve innovative, fast-growing companies, including science and technology businesses, not only in the UK but around the world. world “, HSBC Group CEO Noel Quinn stated.On March 12, Mr Hunt confirmed that the government and BoE were working to “prevent or minimize” serious damage arising from SVB’s UK branch. The BoE said that so far, no bank in the UK was ” directly affected by the government’s actions, nor the situation of the US SVB “. It said the UK banking system remained “safe, sound and has a high level of capital adequacy”.

In addition to the UK, SVB also has branches in China, Denmark, Germany, India, Israel and Sweden.

US officials are also rushing to roll out measures to protect depositors and stabilize the domestic banking system, following the collapse of Silicon Valley Bank last weekend.

Source: CNBC

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