First Republic says it plans to sell off assets, restructure its balance sheet, and lay off staff Shares in First Republic Bank plunged another 30% on Wednesday following a wipeout one day previously, after the struggling US lender revealed that depositors had withdrawn more than $100 billion in the first quarter. The bank’s stock dropped 49% on Tuesday after the San Francisco-based lender disclosed that it had lost 40% of its deposits, fueling fears of further bank collapses in the US. The concerns follow the failures of Silicon Valley Bank and Signature Bank in March, leaving the US banking sector facing i
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