Silicon Valley Bank collapsed days after featuring on Forbes America's Best Banks List – Economist Sanjeev Sanyal weighs in Photo : ET Now DigitalSilicon Valley Bank , which describes itself as "financial services partner for the innovation economy" on Twitter, has been shut down by the California Department of Financial Protection and Innovation. Silicon Valley Bank has been a lender to many big names in the startup and technology world and was notably named among America’s Best Bank recently. Proud to be on @Forbes' annual ranking of America's Best Banks for the 5th straight year and to have also been name… t.co/OCHhSahW2r — ANI (@ANI) Mar 7, 2023Forbes’ 14th annual America’s Best Banks list looked at growth, credit quality and profitability to rank the 100 largest (by assets) publicly-traded banks and thrifts from best to worst. California-based SVB Financial Group bagged the 20th spot on the list with $213 billion in assets and 13.8 per cent return on equity. The SVB Bank crisis began after its parent, SVB Financial Group, declared that it would sell $21 billion of its securities which were a part of its portfolio.

Source: Forbes March 11, 2023 19:22 UTC