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Impact of Covid-19 on Private Bank Based on SVB
- 1 The Affiliated International School of Shenzhen University, Shenzhen, China
* Author to whom correspondence should be addressed.
Abstract
The COVID-19 pandemic has had a profound impact on private banks such as Silicon Valley Bank (SVB). This summary explores the impact of the pandemic on private banking operations, financial performance, and strategic initiatives. The rapid shift to digital banking, driven by lockdowns and social distancing measures, highlights the importance of strong technical infrastructure and cybersecurity measures. Private banks have had to deal with increasing credit risk and market volatility and have therefore had to adapt their lending practices and risk management frameworks. However, private banks focused on sectors such as technology and healthcare have experienced growth opportunities. Effective communication and personalized support are critical to keeping customers engaged during a crisis. It not only describes the causes of the collapse of Silicon Valley banks but also describes what changes government departments, banks, and individuals should make after these social changes, how to avoid these risks, and how to lead the company to a better path of development.
Keywords
Finanical Institutions, Regulatory Framework, Private Banks
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Cite this article
Huangfu,B. (2024). Impact of Covid-19 on Private Bank Based on SVB. Advances in Economics, Management and Political Sciences,59,66-71.
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Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
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