Shanghai Pudong Development Bank Co. is the Chinese partner in the joint venture. The banking regulator and SPDB didn’t immediately respond to requests for comment.
Chinese regulators held a meeting with banks to gauge interest in taking over failed Silicon Valley Bank’s stake in a local joint venture in a bid to safeguard the banking system from the US lender’s collapse.
The China Banking and Insurance Regulatory Commission convened a meeting this week to discuss the disposal of SVB’s 50% holding in SPD Silicon Valley Bank, people familiar with the matter said, asking not to be named as the information is private. Some Chinese banks have already indicated interest, one of the people said, adding that discussions are at a very early stage. It was unclear if the regulator prefers a foreign buyer, another person said.
