Silicon Valley Bank Surprisingly Sees Little Benefit From Higher Interest Rates
Though we’ve been bearish on no-moat Silicon Valley Bank for a while, even we were surprised to see only a 3-basis-point improvement in net interest margin and a 2-basis-point decline in loan yields during the quarter. The bull argument is that Silicon Valley Bank is one of the best-positioned banks to benefit from higher rates, given it's largely funded by non-interest-bearing deposits and mostly lends at floating rates. However, this quarter, the bank saw practically no benefit from higher rat...SVB Financial Group is a financial services company, as well as a bank holding company and a financial holding company. The company provides commercial and private banking products and services through its principal subsidiary, Silicon Valley Bank. The company has three segments: Global Commercial Bank, which comprises of its Commercial Bank, its Private Equity Division, SVB Wine, SVB Analytics and its Debt Fund Investments; SVB Private Bank, which provides a range of personal financial solutions for consumers; and SVB Capital, which focuses primarily on funds management.
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