An American bank share loses 88% of its value in two weeks

Shares of First Republic Bank fell in OTC markets by about 20% on Monday, bringing its losses to 88% in the past two weeks.

According to “CNN”, the bank’s shares declined under pressure from the continuous exit of investors, resulting from the growing concern about the bank’s financial situation, even after obtaining a rescue package worth $ 30 billion to prevent its complete collapse.

Trading in First Republic Bank shares was suspended several times during the past week, due to the many fluctuations, especially after its rating was lowered again by Standard & Poor’s Global, which said that the rescue package is not sufficient to solve liquidity and financing problems.