Apr 12, 2023
After the SVB bankruptcy
The recent unexpected bankruptcy of Silicon Valley Bank (SVB) sent shockwaves through the financial world, but First Citizens Bank is looking to calm the waters by announcing an acquisition. Going forward, SVB's branches will have a fresh start under the First Citizens name, but market jitters remain. US analyst Tony Sycamore says the SVB acquisition is positive, but raises concerns about deposit guarantees for other local banks. Underlying uncertainty in the industry still persists
