DBRS keeps SVB at BBB

DBRS Inc. said that following the fourth-quarter financial results of SVB Financial Group, it still rates the company's issuer and senior debt at BBB (high).

The trend is stable.

SVB reported net income available to common stockholders of $17.5 million for the quarter, down from $37.8 million in the previous quarter, but up from $6.0 million in the fourth quarter of 2009, DBRS said.

On a sequential quarter, a higher loan loss provision, higher expenses and lower net interest income from margin compression, more than offset higher noninterest income primarily from foreign exchange fees and deposit service charges, DBRS noted.

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