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NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent - TL;DR CNBC

NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent

Publishing timestamp: 2024-03-07 12:07:43


Summary

New York Community Bank lost 7% of its deposits before announcing a $1 billion-plus capital injection from investors led by Liberty Strategic Capital. The bank also slashed its quarterly dividend and faced concerns about its loan book and deposit base. Former Treasury Secretary Steven Mnuchin's investment has raised hopes for the bank's future.


Sentiment: NEGATIVE

Tickers: NYCB

Keywords: new yorkmarketsbusinessinvestment strategynew york community bancorp incbreaking news: marketsbreaking news: investingbankssteven mnuchindividendsbusiness news

Source: https://www.cnbc.com/2024/03/07/nycb-lost-7percent-of-deposits-in-past-month-slashes-dividend-to-1-cent.html


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