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    SIVBQ   US78486Q1013

SVB FINANCIAL GROUP

(SIVBQ)
  Report
Delayed OTC Markets  -  04:00:00 2023-03-30 pm EDT
0.8950 USD   -7.73%
03/29SVB Financial Group Files For Chapter 11 Bankruptcy
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03/28US Federal Reserve watchdog launches probe of SVB supervision
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03/28Fed watchdog launches probe of SVB supervision -Bloomberg News
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Silicon Valley Bank staff offered 45 days of work at 1.5 times salary - FDIC email

03/11/2023 | 09:59am EDT
FILE PHOTO: A locked door to a Silicon Valley Bank location on Sand Hill Road is seen in Menlo Park,

NEW YORK (Reuters) - Employees of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, according to an email to staff seen by Reuters. 

Workers will be enrolled and given information about benefits over the weekend by the FDIC, and healthcare details will be provided by the former parent company SVB Financial Group, the FDIC wrote in an email late Friday entitled "Employee Retention." SVB had a workforce of 8,528 at the end of last year.

Staff were told to continue working remotely, except for essential workers and branch employees.

The FDIC did not immediately respond to a request for comment.

Silicon Valley Bank imploded after depositors, concerned about the lender's health, rushed to withdraw their deposits. The frenetic two-day run on the bank blindsided observers and stunned markets, wiping out more than $100 billion in market value for U.S. banks.

(Reporting by Lananh Nguyen in New York and Pete Schroeder in Washington; Editing by Megan Davies and FRanklin Paul)

By Lananh Nguyen and Pete Schroeder


© Reuters 2023
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Analyst Recommendations on SVB FINANCIAL GROUP
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Financials (USD)
Sales 2023 5 411 M - -
Net income 2023 -764 M - -
Net Debt 2023 - - -
P/E ratio 2023 -0,07x
Yield 2023 -
Capitalization 53,0 M 53,0 M -
Capi. / Sales 2023 0,01x
Capi. / Sales 2024 0,01x
Nbr of Employees 8 553
Free-Float 98,7%
Chart SVB FINANCIAL GROUP
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 0,90
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Gregory W. Becker President, Chief Executive Officer & Director
Daniel J. Beck Chief Financial Officer
Beverly Kay Matthews Chairman
Mark Rohrwasser Chief Information Officer
Philip C. Cox Chief Operating Officer
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