Defunct SVB Financial Group to offload Indian arm
Thu, Mar 21, 2024 9:48 AM

Defunct SVB Financial Group to offload Indian arm

A Flip by Riya Sharma
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The bankrupt parent company of Silicon Valley Bank plans to sell its entire stake in Indian subsidiary SVB Global Services India to lender First Citizens Bancshares, it said in a filing on Wednesday.SVB Financial Group is currently seeking approval from a bankruptcy court, with a hearing scheduled for April 9. The company anticipates that the transaction will close after this hearing.

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