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| 11/06/2012 |
Sillicon Valley Bank Opens UK Branch |
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US hi-tech bank, Sillicon Valley Bank, has opened its first branch in the UK, offering offering banking and loan services to the UK tech industry.
The bank, which has $20bn (£13bn) in assets, will target the technology, life science, private equity and venture capital sectors.
Tech companies Shazam and The Foundry are already UK clients.
Chancellor George Osborne said the move proves "the UK is fast becoming the technology centre of Europe".
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Mr Cox said the bank would be making loans of between £300,000 and £30m to established companies looking to expand.
(H/GK)
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