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California-based Silicon Valley Bank gets lending license from German regulator

Santa Clara, Calif.-based Silicon Valley Bank is opening a branch in Frankfurt after securing a lending license from BaFin, Germany's financial regulatory authority.

The SVB Financial Group subsidiary plans to provide financing for innovation companies and their investors across Germany, provide loans to growth-stage technology and life science businesses as well as finance acquisitions and working capital.

The bank, which now operates in the U.K., Ireland and Germany, continues to evaluate other opportunities in Europe.