SVB FINANCIAL GROUP SIVBQ

Financial Services

SVB Financial Group is the holding company for various financial services companies. The Company offers commercial and private banking products and services through its principal subsidiary, Silicon Valley Bank (the Bank). The Company's segments include Silicon Valley Bank and SVB Private. The Silicon Valley Bank segment is its commercial bank, which offers products and services provided by the Bank and its subsidiaries to commercial clients. The SVB Private segment is its private banking and wealth management division of the Bank and provides an array of personal financial solutions for consumers.

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SVB FINANCIAL GROUP > News out of germany

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Post by 2021Gambleon Mar 13, 2023 9:24am

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News out of germany

Silicon Valley Bank's Germany Branch Ordered Closed by German Regulator

13 Mar 2023 09:18 ET

09:18 AM EDT, 03/13/2023 (MT Newswires) -- SVB Financial Group's (SIVB) Silicon Valley Bank branch in Germany was ordered by the country's financial regulator to be closed Monday.

Germany's Federal Financial Advisory Authority said it has also issued a ban for the US bank's German branch on disposals and payments, saying "the institution is at risk of being unable to meet its obligations towards its creditors."

The regulator said the crisis at "Silicon Valley Bank Germany Branch poses no threat to financial stability." The overall assets of the Frankfurt-based branch as of Dec. 31 were 789.2 million euros ($845 million), it added.

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