London Daily

Focus on the big picture.
Tuesday, Jul 22, 2025

Silicon Valley Bank’s UK arm sees sharp inflows after £1 HSBC rescue

Silicon Valley Bank’s UK arm sees sharp inflows after £1 HSBC rescue

The British arm of Silicon Valley Bank has seen its deposit base rise back above £7bn - 10 days after steep withdrawals led it to the brink of insolvency.
The British arm of Silicon Valley Bank (SVB UK) has seen hundreds of millions of pounds of deposit inflows in the wake of its £1 rescue takeover by HSBC.

Sky News understands that SVB UK's deposit base now stands at over £7bn - 10 days after Europe's biggest lender agreed to buy the business in a deal orchestrated by the Bank of England.

Figures provided by the central bank and published by the Treasury Select Committee this week showed nearly £3bn of deposits were withdrawn from the technology-focused bank between 9 and 10 March.

The run on its UK deposit base came after its US parent company fell victim to a run after failing to raise capital from investors.

One source said more than £300m had been parked with SVB UK by business customers since the beginning of last week, with net inflows being recorded each day.

HSBC is planning to rebrand SVB UK in the coming months, although it is unlikely to use the parent's name and is instead chose to opt for the creation of a standalone brand.

An insider pointed to the precedent of HSBC's First Direct internet bank as a possible model for the future of the SVB UK business.

HSBC's decision to step in and rescue SVB UK for £1 provided salvation for thousands of early-stage UK companies which faced losing access to their deposits and even forfeiting the funds altogether in the event of an insolvency.

The US government is now engaged in a process to sell SVB's parent there.

HSBC declined to comment.
Comments

Brad 2 year ago
More government propaganda and bank propaganda.
Nobody's keeping cash in these banks.
I personally pulled out 22 billion.
Screw your banks.
Gaslighting the public is over twits

Newsletter

Related Articles

0:00
0:00
Close
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
×