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SVB Financial reports $6.15 million operating income for August
By Sarah Lizee
Olympia, Wash., Sept. 29 – SVB Financial Group reported a $6.15 million operating income for August on $7.4 million of gross income/sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.
To compare, the company reported a $2.34 million operating income for July on $5.46 million of gross income/sales.
The net loss for August was $59.21 million, compared to a net loss of $58.43 million in July.
The cash balance at the end of August was $282.93 million, up from $258.55 million at the end of July.
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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