(Reuters) - California-based SVB Financial (SIVB.O), the parent of Silicon Valley Bank, is eyeing banking licenses in China and India, Asia's No.1 and No.3 economies, as part of its international expansion, its chief executive told Reuters.
The bank, which focuses on lending to the technology, life sciences, venture capital and premium wine industries, has moved into Israel, China, India and Britain as it looks to take its venture capital business model overseas.
The bank, valued at close to $2.5 billion, has a joint venture, which is subject to regulatory approval, in China with Shanghai Pudong Development Bank Co Ltd (600000.SS) and has invested in Chinese companies such as Zhejiang Uni-power Guaranty and Zero2IPO Group, and venture capital funds.
"In China, we've announced a joint venture, and our goal is to get a banking license there, and the same in India," Greg Becker said in a telephone interview.
To read the full, original article click on this link: Silicon Valley Bank parent eyes India, China | Reuters
Author: Jochelle Mendonca
