Silvergate Capital Announces Q4 And 2021 Results

Silvergate Capital is a full-service banking company based in the USA. In addition, it can help businesses understand the cash management associated with digital currency. Its stock is valued at $137.8, up 50% from half a year ago. During this period, on November 3, the price jumped to $222.13, reaching a yearly high. It has been declining for the last 2 months. Today, it released the latest results for 2021.

Silvergate Capital

Silvergate Capital’s latest financial report covers Q4 and 2021. Thus, net profit for the quarter amounted to $21.4 million, which is $12.3 million more than in the same quarter of 2020. The same indicator for 2021 was $78.5 million, compared with $26 million in 2020. Commission income associated with a client in digital currency rose to $9.3 million for the quarter, while it was $35.8 million for the year. Profit available to holders of ordinary shares reached $18.4 million in 3 months and $75.5 million in a year. In addition, the volume of deposits exceeded $14 billion in 2021. According to CEO, Alan Lane,  2021 proved to be a very favorable year for growth, as demand for digital currency solutions was high.