👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

SVB Financial looking to sell itself after capital hike fails - CNBC

Published 11/03/2023, 01:24 am
© Reuters
SIVBQ
-

By Geoffrey Smith 

Investing.com -- SVB Financial Group (NASDAQ:SIVB) is looking for a buyer, after efforts to raise capital to fill the hole in its balance sheet failed, CNBC reported on Friday, citing people familiar with the matter.

SVB, also known as Silicon Valley Bank, had announced on Thursday it would seek an emergency cash injection of $2.25 billion to cover a $1.8B loss on the firesale of its bond portfolio. Its shares had lost over 60% on the news and fell another 62% in premarket trading on Friday.

SVB, with assets of $212B, would be by far the biggest U.S. bank to fail since the financial crisis a decade ago if it can't find a buyer.

CNBC said that large financial institutions were looking at a possible acquisition, but gave no additional detail.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.