SVB Financial Group’s Canadian unit doubled the size of its loan portfolio last year as it sought to capitalize on the growth of the country’s technology sector, regulatory filings show.
The Canada division, which received a license to open in 2019, ended last year with C$435 million ($314 million) in secured loans, the documents say. That was a tiny part of SVB’s balance sheet, but it was twice the C$212 million in loans the bank reported a year earlier.
