First Republic Bank shares fall 34.47%

15:15 - 1.05.2023


May 1, Fineko/abc.az. The First Republican Bank of the U.S. (FRB) was transferred to the Federal Deposit Insurance Corporation (FDIC) by the California Department of Financial Protection & Innovation (DFPI).

ABC.AZ reports that at the same time, this corporation received an application from JPMorgan Chase to receive deposits and assets of the bank.

Experts stated that the goal in this matter is to protect depositors.

As of 12.06 Baku time, the shares of First Republic Bank fell by 34.47% to $2.3.

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