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NPS Mulling Ways to Handle Shares in SVB Group, Signature Bank

Written: 2023-03-13 14:24:11Updated: 2023-03-13 14:33:38

NPS Mulling Ways to Handle Shares in SVB Group, Signature Bank

Photo : YONHAP News

The National Pension Service(NPS) says it is mulling ways to handle its shares in the Silicon Valley Bank(SVB) Financial Group and Signature Bank following the collapse of the two U.S. banks.

The pension service said on Monday that it is keeping a close eye on the two banks’ collapse and vowed efforts to minimize losses.

According to the U.S. Securities and Exchange Commission, the NPS declared 100-thousand-759 shares in the SVB Financial Group, the holding company of SVB, as of the end of last December.

The value of the holdings as disclosed on the website of the National Pension Service Investment Management stood at some 362 billion won, or nearly 280 million U.S. dollars, as of the end of 2021 to account for zero-point-77 of the SVB Financial Group’s total shares.

However, the percentage reportedly decreased since the end of 2021.

The NPS was also found to hold shares in Signature Bank with the value of its investment standing at six-point-two billion won as of the end of 2021, or around point-03 percent of the bank’s total shares.

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