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SVB Financial shows $194,377 operating income for March
By Sarah Lizee
Olympia, Wash., April 23 – SVB Financial Group posted a $194,377 operating income on $2.15 million total income for March, according to its monthly operating reported filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
To compare, the company reported a $703,479 operating loss on $854,100 total income for February.
The net loss for March was $9.05 million, compared to a net income for February of $15.65 million.
The cash balance at the end of March was $216.4 million, down from $224.26 million at the end of February.
The financial services and bank holding company is based in Santa Clara, Calif. The company filed bankruptcy on March 17, 2023 under Chapter 11 case number 23-10367.
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