KUALA LUMPUR (March 21): Khazanah Nasional Bhd said it does not have direct exposure to financially exposed lenders Silicon Valley Bank (SVB) and Credit Suisse Group AG.

"We do not have any direct exposure to SVB. When I say no direct exposure, i mean no shareholding, no bond holding, no deposit, [and] no borrowing. We do not have exposure to the bank," Khazanah managing director Datuk Amirul Feisal Wan Zahir told a press conference on Tuesday (March 21).

In terms of indirect exposure, Amirul maintained that it is insignificant to the sovereign wealth fund.

"When I say indirect, it means that we invest in general partners, and they may have some relationships with SVB, but it is insignificant," he explained. He added that the fund also does not have direct exposure to Credit Suisse.

The latest banking crisis was fuelled by the collapse earlier in the month of two US lenders, SVB and Signature Bank.

In the aftermath of the collapse of SVB, Credit Suisse quickly became the next focal point of concern, after its top shareholder Saudi National Bank ruled out providing it with fresh funding. 

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