In what equates to the largest retail banking failure since the global financial crisis, US regulators shut down Silicon Valley Bank (SVB) on Friday and seized its deposits.
The action comes after a dramatic 48 hours that saw the share price of the high-tech lender crash amid a run on deposits by anxious clients.
According to the value of their assets at the time of their collapse, the following are some of the largest retail banking failures:
HBOS (UK), on September 17, 2008 (approximately $811 billion)
On September 25, 2008, Washington Mutual (USA) reported revenues of $307 billion.
On March 10, 2023, Silicon Valley Bank (United States), $209 billion
On August 26, 2007, Sachsen LB (Germany) (approximately $92 billion)
Bradford & Bingley (United Kingdom), on 09/29/2008 (Around $63 billion)
On July 11, 2008, IndyMac (United States), a $32 billion company
The dramatic bankruptcy of Lehman Brothers on September 15, 2008, was one of many business and investment banks that failed as a result of the global financial crisis.
