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SVB Financial shows $3.94 million operating income for September
Chicago, Nov. 1 – SVB Financial Group posted $3.94 million of operating income on $5.93 million of gross income/sales for September, according to the debtor’s monthly operating reported filed with the U.S. Bankruptcy Court for the Southern District of New York.
Comparatively, the company reported $6.15 million of operating income for August on $7.4 million of gross income/sales.
The net loss for September was $21.44 million, compared to $59.21 million at the end of August.
The cash balance at the end of September was $219.5 million versus $282.93 million at the beginning of the month.
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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