HSBC to Buy UK Arm of Silicon Valley Bank

Seems like a great deal for HSBC? Presumably the competition regulator gives deals like this a free pass.<p>&gt; As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a profit before tax of £88m.

Great play by HSBC. It&#x27;s very interesting because some banks will make out very nicely in the comming weeks and some will be dragged down a lot by the general pull of the market. HSBC already found some &quot;free money&quot; right away. I think at least one of the big US banks will also print some money (I&#x27;d bet on JPM).

Wasn&#x27;t SVB UK fine and unaffected by events in US?<p>In the sea of information about this, other than &#x27;all is good&#x27;, I didn&#x27;t know UK branch was being taken over and sold as well.

&gt; HSBC announced it had acquired the UK subsidiary of SVB for £1.<p>What.<p>Well, honestly, well done everybody. This was resolved over a weekend. And shows that it can be resolved.

Thank god we&#x27;ve got a PM who&#x27;s a grown up again.

Surprised Goldmans didn&#x27;t buy them - and position it as Marcus for Startups.

Related, Hindenburg got trolled in India for not spotting this earlier on.<p><a href="https:&#x2F;&#x2F;www.indiatimes.com&#x2F;worth&#x2F;news&#x2F;hindenburg-trolled-for-failing-to-detect-svb-crisis-in-home-country-595726.html" rel="nofollow">https:&#x2F;&#x2F;www.indiatimes.com&#x2F;worth&#x2F;news&#x2F;hindenburg-trolled-for...</a>

I read ARM... cognitive effects.

I read this as &quot;HSBC to Arm Silicon Valley Bank&quot;, which is an entirely different customer-management strategy.

They bought it for £1 and will make a billion from it. What a stupid deal

Wasn&#x27;t HSBC accused of money laundering for cartel back in 2012?

So from one group of crooks to a larger group of crooks.

I think we should socialize the deposits of the depositors of the svb. viva communismo

Article isn’t super clear; is HSBC filling the gap?

Hope they fire SVB UK&#x27;s head of risk assessment. They definitely don&#x27;t want total wokesters like her running things.

HSBC itself is being sold to other banks, for Eg in Canada it&#x27;s sold to RBC, in France it&#x27;s sold to another local bank...