SVB (Silicon Valley Bank) is a financial institution that specializes in providing banking services to technology and life science companies. The 2008 financial crisis, also known as the global financial crisis, was a severe economic downturn that began in the United States and quickly spread to other parts of the world.
While SVB was not immune to the effects of the 2008 financial crisis, it weathered the storm better than many other financial institutions. This is because SVB's business model is focused on serving high-growth industries that were less affected by the crisis than other sectors, such as real estate and finance.
During the crisis, SVB did experience some losses due to the downturn in the technology sector, but it was able to maintain its strong capital position and continue to lend to its clients. In fact, SVB increased its loan portfolio by 27% in 2008, despite the challenging economic environment.
Overall, SVB's focus on serving high-growth industries and its strong financial position helped it navigate the 2008 financial crisis relatively well compared to many other financial institutions.
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