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Signature Bank’s Q3 Deposits Grow by $10B to $95.57B
Q3 net income increased to $241.4M from $138.6M during the same period last year.
Updated May 11, 2023, 7:04 p.m. Published Oct 19, 2021, 10:51 a.m.
Signature Bank added $10 billion in deposits in the third quarter, which included “notable contributions” from its digital assets service.
- Deposits for the New York-based bank grew to a total of $95.57 billion, the company announced Tuesday.
- Signature did not specifically report how much of the growth was due to digital asset deposits, but described the “notable contributions” to the increase from its digital assets banking team.
- The contribution included its Ethereum-based digital payments platform Signet, the first such platform approved approved for use by the New York State Department of Financial Services.
Read more: Signature Bank Taps Tether Rival TrueUSD for Payments Platform
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