Silicon Valley Bank Results Presentation Deck
Improved client investment fee margin drove robust core fee income growth
Raising FY'22 core fee income growth outlook to mid 40s % given current higher rates - additional potential
upside if rates increase
Q1'22 activity
Client investment fees +75% QOQ as fee margin increased 3 bps to 7 bps
with March rate hike, driving robust core fee income growth as
performance of other fee segments remained consistently strong QoQ
●
Core fee income¹
$M
SVB Private AUM²
$M
svb>
159
28
57
25
20
16
13
Q1'21
19,646
Q4'21 AUM
172
31
67
28
15
18
13
Q2¹21
204
22
34
65
29
20
21
13
Q3'21
264
Net flows
216
22
38
73
30
20
21
12
Q4'21
(902)
230
Market returns
22
37
73
30
35
19
14
Q1'22
Wealth management
& trust fees ("WM&T")
Credit card fees
FX fees
Deposit service charges
Client investment fees
Lending related fees
LOC fees
Public market volatility
pressured AUM
19,008
Q1'22 AUM
FY'22 outlook key assumptions
+
Improved client investment fee margin with March rate hike
15 bps at 3/31/22
Significant PE/VC dry powder
That needs to be deployed, ultimately fueling GFB FX activity
Higher lending related fees
Driven by higher unused commitments from robust loan growth as well
as syndication opportunities in collaboration with SVB Securities
Recovering business activity
Supports card spend
New client growth and deepening engagement
From investments in client acquisition, new products and client experience
Enhanced wealth management offering
Full-year impact of inclusion of Boston Private + newly launched brand and
product suite
Public market volatility + near-term pressure on later-stage fundraising
and exits
Moderates GFB FX activity, client liquidity growth, client spending, demand
for syndicated loans and SVB Private AUM growth
Lowered SVB Private AUM year-end target to ~$21-22B (vs. previous target at
-$22-23B) due to public market volatility
1. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures" in our Q1 2022 Earnings Release and our non-GAAP reconciliations
at the end of this presentation.
2. Represents SVB Private's client investment account balances.
Q1 2022 FINANCIAL HIGHLIGHTS
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