Shares in First Republic Bank have tumbled to a new record low after the troubled US regional lender admitted last month's banking crisis sparked a customer deposit flight of more than $100bn
Shares in First Republic Bank have tumbled to a new record low after the troubled US regional lender admitted last month's banking crisis sparked a customer deposit flight of more than $100bn.by a $30bn cash injection agreed by major lenders, saw its stock drop by up to 29% on Tuesday.
First Republic said the withdrawals, which amounted to more than half its pre-crisis total, had cooled since the rescue cash was announced but it was yet to recover any meaningful deposits.
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