Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

First Republic Bank weighing options including sale - Bloomberg News

Published 03/15/2023, 08:03 PM
Updated 03/15/2023, 08:31 PM
© Reuters. FILE PHOTO: A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar

(Reuters) -U.S. private lender First Republic Bank (NYSE:FRC) is exploring strategic options including a sale, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

The troubled bank is weighing options for shoring up its liquidity and it is expected to draw interest from larger rivals, according to the report.

First Republic Bank did not immediately respond to a Reuters' request for comment on the report.

The report follows the bank's rating downgrade by ratings agencies Fitch and S&P earlier in the day, citing risks to the its funding and liquidity.

Shares of the bank have slumped on fears of a bank contagion following the collapse of SVB Financial Group and Signature Bank (NASDAQ:SBNY).

Latest comments

this stock will double tomorrow
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.