Today the Government and the Bank of England facilitated a private sale of Silicon Valley Bank (SVB) UK to HSBC.
In this transaction, no taxpayer money was involved, and customer deposits have been protected.
As the Chancellor said, the UK’s tech sector is world leading and hugely important to the British economy. The Chancellor vowed to protect our tech sector and he has worked to deliver upon this and provide SVB customers with confidence.
To read more 👇🏻
https://www.gov.uk/government/news/government-and-bank-of-england-facil…
If anyone locally has been affected by this, please do get in touch if I can be of assistance.
