Silicon Valley Bank's Chinese partner buys out stake in joint venture By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 31 2024
0mins
Source: Investing.com
SVB's Joint Venture Transition: Silicon Valley Bank's Chinese joint venture, SPD Silicon Valley, will become a wholly owned unit of Shanghai Pudong Development Bank and will be renamed Shanghai Innovation Bank following regulatory approval.
Impact of SVB's Collapse: The collapse of Silicon Valley Bank last year left its joint venture in a precarious position, ultimately leading to the decision for SPD to acquire full ownership and adjust the bank's registered capital.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
