U.S. Markets closed
  • S&P 500

    4,544.90
    -4.88 (-0.11%)
     
  • Dow 30

    35,677.02
    +73.94 (+0.21%)
     
  • Nasdaq

    15,090.20
    -125.50 (-0.82%)
     
  • Russell 2000

    2,291.27
    -4.91 (-0.21%)
     
  • Gold

    1,793.10
    +11.20 (+0.63%)
     
  • EUR/USD

    1.1646
    +0.0015 (+0.1281%)
     
  • 10-Yr Bond

    1.6550
    -0.0210 (-1.25%)
     
  • Vix

    15.43
    +0.42 (+2.80%)
     
  • GBP/USD

    1.3760
    -0.0036 (-0.2601%)
     
  • USD/JPY

    113.4800
    -0.5080 (-0.4457%)
     
  • BTC-USD

    61,443.84
    +648.93 (+1.07%)
     
  • CMC Crypto 200

    1,453.34
    -49.70 (-3.31%)
     
  • FTSE 100

    7,204.55
    +14.25 (+0.20%)
     
  • Nikkei 225

    28,804.85
    +96.25 (+0.34%)
     

SVB Hits Record after Best Quarter Helps It Give Even Better Outlook

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

By Dhirendra Tripathi

Investing.com – SVB Financial (NASDAQ:SIVB) hit an all-time high after the bank gave a 2021 forecast that was better on almost every parameter versus the one it gave in January.

The improved outlook was triggered by the bank’s quarterly performance in January to March, its best ever.

The Silicon Valley-based lender now sees average loan balances rising at a percentage in mid-thirties from mid-twenties forecast earlier. Similarly, average deposit balances are also now seen growing in high-sixties as against mid-forties forecast previously.

Net interest income is expected to grow in mid-thirties and not low-twenties as estimated last time.

For the first quarter ended March, SVB’s consolidated net income was $532.2 million, or $10.03 per share, compared to $388.3 million or $7.40 per share in the fourth quarter of 2020.

Related Articles

SVB Hits Record after Best Quarter Helps It Give Even Better Outlook

Wall Street sees long road ahead as Intel seeks to regain market share

Qualcomm vs. Broadcom: Which iPhones Supplier is a Better Buy?