The bank no-one has heard of that is making international news
Many clients may have seen the news in regards to the SIVB bank – Silicon Valley Bank.
This is a bank that is not well known and given there are over 4,800 banks in the US that is probably not a great surprise.
It is a reasonably large bank with total assets of US$211.8 billion as at the 31st December 2022. Compare that to the NAB with total assets of $596.1 billion.
SVB grew very quickly, through venture capital firms pouring cash into it as they raised capital for potential start-ups.
