SVB Financial seeks bankruptcy protection as banking turmoil persists

Shares of big US banks fell between 1.5% and 2% in premarket trading on Friday

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Photo: Bloomberg

2 min read Last Updated : Mar 17 2023 | 10:17 PM IST

SVB Financial Group said on Friday it filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank w

Topics : Silicon Valley | Bankruptcy

First Published: Mar 17 2023 | 5:52 PM IST

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SVB Financial seeks bankruptcy protection as banking turmoil persists

Shares of big US banks fell between 1.5% and 2% in premarket trading on Friday

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