SVB Financial Group (NASDAQ:SIVB) Q4 2022 Earnings Call Transcript

One is the annual guidance and the second one is the quarterly guidance to make sure that you kind of really have a good sense of how we’re feeling about the quarter. We talked about what it means for SVB. And again, just to go back, we think the first half is going to be — it’s going to be bumpy. We expect that you’re going to see venture capital decline in the first half of ’22, and then kind of ’23 and then stabilized and start to improve. So our expectations are not for a big improvement from where we are right now. And that’s just the outlook we think is realistic. And could there be some upside, certainly there could be some upside, but that’s not what we have in our plan. And especially if it gets worse, as we went through and you can see in the deck, we have ample resources of liquidity and other ways to make sure we’re taking care of our clients and still being there for them when they need us.

So that’s kind of our view. Again, thanks, you guys for joining. As always, I want to thank our clients. It’s one of my favorite parts of what I get to do is spending time with our clients and just hearing their stories about what they’re doing. And they’re still excited. And yes, they’re making hard decisions. But they are well positioned. And quite honestly, I think markets like this, in many ways, as much as we don’t like it, we don’t enjoy it. It’s actually healthy because it allows those companies to run more efficiently, run more effective and position themselves for growth. And then, finally, thanks to all of our employees, I can’t thank them enough for what they have been doing to support our clients, what they’re doing to support each other and look at the tough market.

And so keeping that positive attitude and client-centric mentality is super important. So we appreciate that. So thanks, everybody. Thanks for joining us and have a great day. Thank you.

Operator: This concludes today’s conference call. Thank you for attending. You may now disconnect.