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Hours before the collapse, the bankrupt American bank paid the bonus to its employees

According to CNBC’s sources, there was nothing extraordinary about Friday’s payment, as the bank traditionally paid the previous year’s bonuses on the second Friday of March every year. It can only be a coincidence that this year’s payment also meant the bank’s bankruptcy, as the American Deposit Insurance Corporation (FDIC) took control of the financial institution on Friday.

It is not known how much bonus the bank paid in total after 2022, based on the data of the salary comparison site, the amount of the annual bonus at SVB was between 12,000 and 140,000 dollars. Bloomberg, on the other hand, previously wrote that in 2018 the bank was the most generous with its employees, who received an average bonus of around 250,000 dollars.

According to the news, after the bankruptcy, the bank will employ its employees for another 45 days, at least that is what it offered them. In December, SVB had more than 8,500 employees.

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