The only logical reason that I see is that SVB UK is actually not in a good shape, and that they just copy-pasted the "good practices" of the parent company, an

The only logical reason that I see is that SVB UK is actually not in a good shape, and that they just copy-pasted the "good practices" of the parent company, and ended up in the same situation, but without the bank run yet. Otherwise, it's just a gift from gods, to pay 1 GBP for something worth 10B+ GBP and with 1B+ GBP in positive balance.