FILE PHOTO: Illustration shows SVB (Silicon Valley Bank) logo
SINGAPORE: The new owner of Silicon Valley Bank (SVB), which collapsed after a bank run in March and set off fears of a broader contagion in the global financial sector, says customers are still withdrawing deposits, the Financial Times has reported.
Peter Bristow, president of First Citizens BancShares Inc, which agreed to buy the California-based lender last month, said in an interview with the Financial Times that SVB was still seeing outflows and called for patience from investors.
