First Citizens considering to make an offer to buy collapsed SVB: Report

As Wall Street giants move to end the spiralling banking crisis in the US, First Citizens BancShares Inc is reportedly considering making an offer to acquire the collapsed Silicon Valley Bank.

According to Bloomberg News, citing sources, at least one other suitor is making a serious consideration for the collapsed bank and that could be First Citizens.

Although nothing could be confirmed at the moment.

SVB and First Citizens did not immediately respond to the report.

This will be the US FDIC’s second attempt at selling SVB after a failed attempt last week.