BRIEF-HSBC Acquires Silicon Valley Bank Uk

HSBC Holdings PLC: * HSBC HOLDINGS PLC - HSBC ACQUIRES SILICON VALLEY BANK UK

* HSBC HOLDINGS PLC - HSBC ACQUIRES SILICON VALLEY BANK UK * HSBC - HSBC ACQUIRES SILICON VALLEY BANK UK LIMITED

* HSBC - UK RING-FENCED SUBSIDIARY, HSBC UK BANK PLC, IS ACQUIRING SILICON VALLEY BANK UK LIMITED (SVB UK) FOR £1 * HSBC - ASSETS AND LIABILITIES OF PARENT COMPANIES OF SVB UK ARE EXCLUDED FROM TRANSACTION

* HSBC - TRANSACTION COMPLETES IMMEDIATELY. ACQUISITION WILL BE FUNDED FROM EXISTING RESOURCES * HSBC - AS AT 10 MARCH 2023, SVB UK HAD LOANS OF AROUND £5.5BN AND DEPOSITS OF AROUND £6.7BN

* HSBC - FINAL CALCULATION OF GAIN ARISING FROM ACQUISITION WILL BE PROVIDED IN DUE COURSE Source text for Eikon: Further company coverage: