First Republic stocks drops nearly 50% after plunge in deposits | CNN Business

First Republic Bank expects to cut its workforce by 20-25% this quarter

Analysts were expecting deposits to land at around $136.7 billion. First Republic Bank also expects to cut its workforce by 20-25% this quarter, it said late Monday during its first-quarter earnings call. The bank said it saw a sharp drop in deposit activity after the collapse of Silicon Valley Bank and Signature Bank last month, but that activity began to stabilize at the end of March and has since remained steady.

That’s lower than the 94% at Silicon Valley Bank — but at the end of last year, First Republic had an exceptionally high ratio of 111% for loans and long-term investments to deposits, according to S&P Global — meaning it has loaned and invested more money than it has in deposits.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

CNN /  🏆 4. in US

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

First Republic Bank’s stock falls nearly 50% after reporting an exodus of depositsInvestors sent the San Francisco lender’s shares down by almost 50% after it reported losing some 40% of deposits, even as the stream of customers pulling their money from regional banks has eased up.
続きを読む »

First Republic shares fall nearly 50%, what we knowFirst Republic Bank's stocks took another hit following weeks of turmoil that followed Silicon Valley Bank's collapse last month.
続きを読む »

First Republic Bank to slash up to a quarter of its workforce | CNN BusinessFirst Republic Bank expects to cut its workforce by 20-25% this quarter, the embattled lender said late Monday.
続きを読む »

First Republic bank says deposits tumbled 40% to $104.5 billion in the first quarterThe lender said things have stabilized since last month's banking emergency, but it will still reduce headcount by 20% to 25% in the second quarter.
続きを読む »

What First Republic's results mean for the regional bank trade, according to Wall StreetFirst Republic saw a larger deposit decline than many of its rivals during the first quarter.
続きを読む »

First Republic beats profit target but stock drops as deposits fall by 36%First Republic Bank stock fell 7% in after-hours trades on Monday, despite stronger-than-expected first-quarter profit from the bank, as its deposits fell by...
続きを読む »