BEIJING, Aug 31 (Reuters) - Silicon Valley Bank's

Chinese joint venture will become a wholly owned unit of

Shanghai Pudong Development Bank, following approval to change

its name to Shanghai Innovation Bank, a Chinese financial

regulator said late on Friday.

Silicon Valley Bank's (SVB) collapse last year was one of

the largest in U.S. banking history and left its joint venture

with Shanghai Pudong Development Bank (SPD) - SPD Silicon Valley

- in the lurch after no buyers emerged to acquire SVB's stake.

In a statement on Friday, the National Financial Regulatory

Administration's Shanghai branch said it had agreed the bank

could adjust its shareholder ratios so that SPD holds 100% of

the shares, effectively approving SVB exiting the joint venture.

The bank's registered capital has been lowered to the

equivalent of 1 billion yuan ($141 million) from 2 billion yuan.

($1 = 7.0900 Chinese yuan renminbi)