Rising interest rates were supposed to help Silicon Valley Bank. Instead, it got hurt.
The largest banks in the country posted higher lending profits in the third quarter and predicted more gains to come thanks to the Federal Reserve’s recent rate moves. Silicon Valley Bank, which caters to technology and life-science companies, especially startups, posted some of the slimmest gains and warned that its margins had already peaked.
Continue reading your article with
a WSJ membership
Already a member?