FF News Logo
Thursday, February 05, 2026
MPE x FFNews

Breaking News

ComplyAdvantage Fintea Chats: Jodie Gayet on Why Early Support Matters in Financial Crime Prevention Why Hybrid Cloud is Becoming the Backbone of Modern Banking ING: Learning Before Scaling AI at Speed Finance Platform LemFi Launches Remittance Services in Australia as Global Expansion Continues Prosus Ventures backs Qureos to slash time-to-hire across MENA Chase Enters Insurance Market With Launch of Insurance Bundle for U.K. Consumers PayPal Appoints Enrique Lores as Chief Executive Officer and David W. Dorman as Independent Board Chair Patra Releases 2026 AI and Insurtech Trends Report Starling Supercharges Savings Offering With New Cash ISA and Revamped Easy Saver One Inc Unveils Model Context Protocol to Accelerate Insurance Payments Integration and Secure AI Data Access Vault Selects Thredd as Strategic Issuer Processing Partner for Australia and UK Expansion botim Money Expands Global Remittances Through TerraPay’s Partnership Axle Teams With Experian to Bring Insurance Verification to Automotive Dealers to Reduce Fraud Artificial Labs Raises $45M Series B to Accelerate Global Growth Equiti Group Partners With Checkout.com to Expand Worldwide Payments
Silicon Valley Bank

March 13 2023

Bank of England Confirms Sale of Silicon Valley Bank UK to HSBC

Share this post:

Share on LinkedIn Share on WhatsApp

Silicon Valley Bank (UK) Ltd has today been sold to HSBC. HSBC is headquartered in London, is the largest bank in Europe and is one of the world’s largest banking and financial services institutions, serving 39 million customers globally. Customers of SVB UK will be able to access their deposits and banking services as normal from today.

This transaction has been facilitated by the Bank of England, in consultation with the Treasury, using powers granted by the Banking Act 2009. No taxpayer money is involved, and customer deposits have been protected.

Making use of post-crisis banking reforms, which introduced powers to safely manage the failure of banks, this sale has protected both the customers of SVB UK and taxpayers.

The UK has a world leading tech sector, with a dynamic start-up and scale-up ecosystem and the government is pleased that a private sector purchaser has been found.

Chancellor Jeremy Hunt said:

“The UK’s tech sector is genuinely world-leading and of huge importance to the British economy, supporting hundreds of thousands of jobs. I said yesterday that we would look after our tech sector, and we have worked urgently to deliver on that promise and find a solution that will provide SVB UK’s customers with confidence.

“Today the government and the Bank of England have facilitated a private sale of Silicon Valley Bank UK; this ensures customer deposits are protected and can bank as normal, with no taxpayer support. I am pleased we have reached a resolution in such short order.

“HSBC is Europe’s largest bank, and SVB UK customers should feel reassured by the strength, safety and security that brings them.”

Companies In This Post

HSBC | FinTech Finance

HSBC
Silicon Valley Bank | FinTech Finance

Silicon Valley Bank
  1. ComplyAdvantage Fintea Chats: Jodie Gayet on Why Early Support Matters in Financial Crime Prevention

    ComplyAdvantage Fintea Chats

     Read more
  2. Why Hybrid Cloud is Becoming the Backbone of Modern Banking

    Thought Leadership

     Read more
  3. ING: Learning Before Scaling AI at Speed

    Fintech TV

     Read more
  4. Finance Platform LemFi Launches Remittance Services in Australia as Global Expansion Continues

    News

     Read more
  5. Prosus Ventures backs Qureos to slash time-to-hire across MENA

    Fintech

     Read more
The Malta NextGen Payments and RegTech Forum x FFNews