It has been a turbulent two weeks for the US and global banking sectors.
Silicon Valley Bank (SVB), the 16th largest bank in the US, was shut down by regulators on 10 March, becoming the second-largest US bank to fail since the Great Financial Crisis (GFC).
SVB was well-known for serving start-ups and venture capital firms and had assets of around US$209 billion as of December last year.
Just two days later, Signature Bank became the third-largest US bank failure when it suffered a US$10 billion run on its deposits, making it insolvent.
Over in Switzerland, Credit Suisse (NYSE: CS) is also facing a crisis of confidence.
The country’s second-largest bank has been rescued by its larger competitor, UBS Group AG (NYSE: UBS), in a government-backed deal.
With the ongoing turmoil in the banking sector, investors may feel jittery about the trio of local banks and whether they can weather this storm....