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

Reuters Reuters
SVB, Silicon valley bank

Photo: Bloomberg

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

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

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