IBOS member SVB announce positive second quarter results

IBOS member bank SVB Financial Group announced its financial results for Q2 2019.

SVB recently announced consolidated net income available to common stockholders for the second quarter of 2019 was $318.0 million, or $6.08 per diluted common share, compared to $288.7 million, or $5.44 per diluted common share, for Q1 2019 and $237.8 million, or $4.42 per diluted common share, for the Q2 2018. Consolidated net income available to common stockholders for the six months ended 30 June, 2019 was $606.7 million, or $11.51 per diluted common share, compared to $432.8 million, or $8.05 per diluted common share, for the comparable 2018 period.

“Our outstanding second quarter results attest to the health of our core business and our ability to execute effectively in a highly competitive environment, with robust client acquisition, solid balance sheet growth, strong credit quality and stable expenses, topped by exceptional warrant and investment gains. While interest rate dynamics continue to pressure net interest income and net interest margin across the industry, we believe our long-term growth strategy, longstanding commitment to innovators and investors, and unique ability to help them drive their businesses forward remain the keys to our continued growth and profitability,” said Greg Becker, President and CEO of SVB Financial Group.

Highlights of SVB’s second quarter are as follows:

• Average loan balances of $29.4 billion, an increase of $1.0 billion (or 3.6 percent).

• Period-end loan balances of $29.2 billion, an increase of $0.3 billion (or 1.2 percent). • Average fixed income investment securities of $23.1 billion, an increase of $1.0 billion (or 4.7 percent).

• Period-end fixed income investment securities of $22.8 billion, an increase of $1.0 billion (or 4.6 percent).

• Average total client funds (on-balance sheet deposits and off-balance sheet client investment funds) increased $5.5 billion (or 4.0 percent) to $142.6 billion.

• Period-end total client funds increased $6.6 billion (or 4.7 percent) to $147.1 billion.

Please find further details of SVB’s Q2 2019 results here.