Silicon Valley Bank Financial in talks to sell itself, report says

Silicon Valley Bank Financial, the holding firm of Silicon Valley Bank, is in talks to sell itself, according to CNBC, the latest turn for the technology-focused lender as it grapples with rising interest rates as many of its customers scramble to get their money out. Shares of Silicon Valley Bank Financial fell 60% Thursday, causing panic among many of its customers.

CNBC did not identify the buyer, but reported that Silicon Valley Bank unsuccessfully attempted to raise money from investors before exploring the sale. No official word from the company, either. The firm has halted trading Friday for an incoming news.

toptechtrends.com/2023/03/10/silicon-valley-bank-financial-in-talks-to-sell-itself-report-says/”>Silicon Valley Bank Financial in talks to sell itself, report says by toptechtrends.com/author/manish-singh/”>Manish Singh originally published on toptechtrends.com/”>TechCrunch