Amidst uncertainty in First Republic Bank, Sweden’s biggest pension fund, Alecta has exited the US-based lender by selling its entire shares at a loss of 7.5 billion kronor ($728 million). First Republic has witnessed relentless selling of its shares due to liquidity risks which came into the limelight after Silicon Valley Bank and Signature Bank’s collapse. Currently, banking stocks globally are under pressure due to contagion fear.
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