- First Republic delivered a strong Q3 with beats in revenue and EPS with strong loans and deposits growth and lowered credit loss provisions.
- It has limited exposure to risky sectors that are due to perform poorly in a recession.
- First Republic has a high-quality portfolio coupled with historically low credit losses that positions the bank well for tough times.
- The main worry is the elevated valuation levels and the reality that some losses may be hitting its balance sheet in the coming quarters.
For further details see:
First Republic: Built For The Tough Times