Silicon Valley Bank's China venture says operations 'sound'

Silicon Valley Bank's China venture says operations 'sound'

FILE PHOTO: A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in Santa Clara, California, U.S. March 10, 2023. REUTERS/Nathan Frandino/File Photo

The Chinese joint venture of defunct lender SVB Financial Group assured the public its operations were “sound” Saturday, saying its balance sheet is independent from its American partner.