First Republic Bank Loses Almost $72 Billion in Deposits, Stock Price Halves
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First Republic Bank’s stock plummeted by almost 50% on Tuesday after the bank reported a significant loss of deposits in the first quarter of the year. The San Francisco-based bank announced a loss of nearly $72 billion in deposits between December 31 and March 31, despite receiving a $30 billion infusion from 11 rival lenders on March 16 in a bid to prevent a broader banking crisis.
While most banks have reported only modest outflows in recent weeks... Читать дальше...