Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2022-09-06 17:31:22

Signature Bank spot deposits fall quarter-to-date, fueled by crypto slump

In its mid-quarter update, Signature Bank (NASDAQ:SBNY) said Tuesday its spot deposit balances fell by ~$1.64B, as of Sept. 2, 2022, due to outflows in the digital banking space of $4.27B, driven by the recent downturn in cryptocurrency markets.Excluding the digital asset banking team, deposit balances have increased $2.64B during Q3.Spot loan growth so far this quarter is almost $2.39B with growth in almost all of its lending businesses.That puts Signature Bank (SBNY) in position to meet its target of combined loan and securities growth at the higher end of $1B-$3B range in Q3, it said.Signature Bank (SBNY) has dipped 2.6% in Tuesday afternoon trading, along with most other banks.In July, SA contributor took a close look at Signature's (SBNY) Q2 results and its growth prospects

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.