Read the article via Forbes here, with SVB ranked in 15th place.
IBOS Association member bank, Silicon Valley Bank (SVB), has been recognised as one of America’s Best Banks in 2022 by Forbes.
Forbes has published its 13th annual America’s Best Banks list, which analysed each bank’s growth, credit quality and profitability to rank the 100 largest publicly-traded banks and thrifts.
Many of America’s banks were on the frontlines of responding to the pandemic, helping to facilitate all types of online transactions for both corporate and retail customers. As a result, many banks also acted as part of the solution during the pandemic by improving its technology, as opposed to part of the problem the way the industry was during the global financial crisis.
The rankings reflect that there are many smaller banks that are being recognised, adding that there is Main Street banking growth for the first time in the digital age. The increased digitalisation of the banking sector should improve margins, especially for smaller Main Street banks.
SVB is highlighted in the 15th place, with total assets noted as USD$191 bn and a 20.4% return on equity. The Bank also had an operating revenue growth of 62.1%.