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First Republic reports that deposits fell 40.8% since year end to $104.5 billion

It's all about deposit rates for First Republic Bank, which was one of the hardest-hit banks in the March rout and the stock price remains on life support.Analysts forecast deposits would fall to somewhere in the range of $135-$145B at quarter end but they were at $104.5B including the $30B from large US banks and fell to $102.7B to April 21. The company said deposits were at $173.5 billion on March 9, so it was a swift drop.Neal Holland, Chief Financial Officer of First Republic said, “With the... Read More

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Posted: Apr 24 2023, 20:09

Author Name: forexlive

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