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Search resuls for: "Medha Singh Joice Alves"


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☆ First Republic shares tank almost 33% despite $30 bln support
  + stars: | 2023-03-17 | by ( Medha Singh Joice Alves | Medha Singh | Joice Alves | ) www.reuters.com   time to read: +3 min
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) lost almost 33% on Friday, totaling a loss of around 80% in the last 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The rescue package came less than a day after Swiss bank Credit Suisse (CSGN.S) clinched an emergency central bank loan of up to $54 billion to shore up its liquidity. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
☆ First Republic shares tank 32% despite $30 bln support
  + stars: | 2023-03-17 | by ( Medha Singh Joice Alves | Medha Singh | Joice Alves | ) www.reuters.com   time to read: +4 min
[1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMarch 17 (Reuters) - Shares of First Republic Bank (FRC.N) extended losses to 32% in afternoon trading on Friday after being briefly halted as $30 billion in deposits injected by large U.S. banks failed to quell investor worries about the beleaguered lender. First Republic suspended its dividend and disclosed it has $34 billion in cash excluding the new deposit injection. Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report. The ratings agency had downgraded its outlook on the U.S. banking system to negative earlier this week.
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