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so let s get down to business and turmoil in the banking industry is back. shares in the us regional lender first republic dropped more than 20% in extended trading on monday after it revealed it suffered a huge drop in deposits during the first quarter. first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. samira hussain has more from new york. normally more from new york. when a company is earnings normally when a company is earnings for a quarter are released executives hold a call with analysts when they take questions, that wasn t the case for first republic, executive spoke for about ten minutes and then took no question. it is perhaps an indication ofjust how bad must have become at the regional bank. during the first quarter, it lost hundred and $2 billion in customer deposits, thatis billion in customer deposits, that is way more than half of the $176 billion it had on hand at the end of last year. after at the ....
Subject because we are waiting to get the latest earnings news from the swiss banking giant ubs. it s expected to report a fall in income in the first quarter following its dramatic takeover of its arch rival credit suisse. last month, swiss regulators moved to ring fence credit suisse after a collapse in confidence in the banking sector saw investors withdraw billions of dollars in assets. the swiss national bank agreed to lend ubs up to 100 billion swiss francs to help secure the deal the combined banking group is now estimated to be twice the size of the swiss economy with invested assets of $5 trillion. i m joined by alpesh patel, chief executive of praefinium. good morning to you. so, ubs results, due out in the next ten minutes or so, what you think they will tell us? 1 would be a buyer before the results are out because there is so much negative news out there and low expectations that ....