HSBC Acquires Silicon Valley Bank’s UK Unit for Just £1

Silicon Valley Bank

In a dramatic turn of events, HSBC has rescued Silicon Valley Bank’s UK arm and prevented a crisis in Britain’s tech sector. The move comes after all-night talks led by Prime Minister Rishi Sunak and the Bank of England. With this acquisition, HSBC has ensured that Silicon Valley Bank’s UK unit will continue to operate without interruption and contribute to the growth of the UK’s tech sector. This move is expected to have a significant impact on the UK’s financial landscape and marks a major milestone in HSBC’s expansion strategy.