SVB parent company delays publishing quarterly results

'Business severely curtailed'

Eve Maddock-Jones
clock • 2 min read

SVB Financial Group has said it will be unable to meet the deadline for filing its quarterly results, delaying its publication due to lack of relevant staff.

The parent company of the now closed Silicon Valley Bank, disclosed in a Securities and Exchange Commission filing yesterday (9 May) that it would be unable to meet the reporting deadline set out by the US Securities and Exchange Commission's as the collapse principal subsidiary had hampered the firms reporting capabilities. On the 17 March, SVB Financial Group filed for 'reorganisation bankruptcy', but SVB was not part of the claim as court-appointed administrators were tasked with unwinding the investment management arm, SVB Capital, investment bank SVB Securities and wealth manager SV...

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