What next for Silicon Valley Bank and its customers?

📆 3/19/2023 9:00 PM
📰 businessposthq

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Around 100 Irish firms had a banking relationship with the start-up-friendly bank that went bust last week – some of which had debt facilities and loans that came to tens of millions of euro. Here’s what could be coming next.

Daniel Campion first began to get a sense that something was wrong with Silicon Valley Bank on Thursday night last week, when his phone started to ping.

The co-founder and chief executive of Sitenna, a Limerick-headquartered tech company, was in a WhatsApp group with other business founders and the message was simple: ‘if you bank with SVB it would be wise to get your money out now.’

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What next for Silicon Valley Bank and its customers?Around 100 Irish firms had a banking relationship with the start-up-friendly bank that went bust last week – some of which had debt facilities and loans that came to tens of millions of euro
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