The management of First Republic Bank is studying the possibility of selling it

The management of First Republic Bank is considering selling the bank after downgrading the credit rating of the organization.

In addition to the sale, the bank is considering options to increase its capital. The financial institution expects to attract interest from its larger competitors. The final decision has not yet been made, and the bank may remain independent.

Silicon Valley Bank, the 16th largest U.S. bank by assets, went bankrupt on Friday. It provoked expectations of a chain reaction and a possible financial crisis. Shares of First Republic Bank, down more than 70 percent Monday and up more than 40 percent Tuesday morning. On Wednesday, S&P downgraded the bank’s credit rating to “BB+” with a negative outlook.

First Republic ranks 14th in terms of consolidated assets, according to the U.S. Federal Reserve (Fed) for 2022.

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