The Federal Reserve has announced that all SVB deposit holders, including ikeGPS Group Limited (IKE), will be protected from SVB's closure on 10 March 2023, meaning IKE is expected to fully recover its deposits of approximately US$3.2m, or NZ$5.3m.
IKE maintains a strong cash balance of approximately NZ$19.6m, and CEO Glenn Milnes has commented on the importance of the company's risk-management approach.
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