Post: First Citizens is considering acquiring Silicon Valley Bank

Bloomberg reports, citing informed sources, that First Citizens Bankers is evaluating a bid to acquire Silicon Valley Bank.

At least one other institution is considering taking over the failing bank, according to the report.

Neither Silicon Valley nor First Citizens Bankers responded to a Reuters request for comment outside of business hours.

Reuters reported earlier this week that the Federal Deposit Insurance Corporation has asked banks interested in buying Silicon Valley and Signature to submit bids by March 17.

The deals follow the corporation’s acquisition of Silicon Valley on March 10 and signing last week, when the collapse of two mid-sized banks in the United States raised concerns about fears of spillover effects in financial markets. about the consequences of the crisis.

Related news

Source: Al Ittihad

Leave a Reply

Your email address will not be published. Required fields are marked *

Exit mobile version