Switzerland's UBS Group has bought the troubled Credit Suisse bank for $3.23 billion. The government of Switzerland announced this late on Sunday night. After the recent banking crisis, it is considered a major step to increase confidence in the global financial market. The whole deal is based on shares. Under this, shareholders of Credit Suisse will get one share of UBS for every 22.48 shares held.
Financial assistance of $ 108 billion will also be given
Under this deal, financial assistance of $ 108 billion will also be given to UBS and Credit Suisse from the Central Bank of Switzerland. Apart from this, the Swiss government will compensate UBS 9 billion Swiss francs for any loss in this deal. The 167-year-old Credit Suisse bank recently faced a financial crisis, after which the central bank of Switzerland gave Credit Suite a loan of $54 billion.
First Citizens considering the acquisition of Silicon Valley Bank
First Citizens Bankshare Industries is looking to acquire the bankrupt Silicon Valley Bank (SVB). Bloomberg has given this information citing people familiar with the development. It has also been said in the media report that another company is also considering the acquisition of the bank. However, when SVB and First Citizens were asked for their comments, they did not respond.
FDIC took over after bank failures
Reuters reported earlier this week that the Federal Deposit Insurance Corporation (FDIC) had asked banks interested in acquiring Silicon Valley and Signature Bank to submit bids by March 17. The FDIC has taken them over after the bankruptcy of both banks. A week ago, the FDIC tried to sell Silicon Valley Bank but failed. The FDIC is taking the services of investment bank Piper Sandler in this work.
The reality show 'Bigg Boss 18' is moving towards its final stage. While fans want to see their f
Prime Minister Narendra Modi released an audio message on X (formerly Twitter) ahead of the conse
Manipur has been burning in the fire of violence since last year. More than a year has passed sin
So far 128 people have died and hundreds have been injured due to the massive earthquake in weste
Prime Minister Narendra Modi is on a visit to Gujarat. On the occasion of World Wildlife Day on M
The Realme C53 smartphone is going to be launched in India on 19th July. The company will also in
The Asia Cup 2025 will start on September 9, and the Indian team has not been announced yet. It i
If we talk about the best web series of Hollywood cinema, then the name of Stranger Things is inc
'It is ours, it is ours...', Sonia Gandhi replied smilingly on the Women Reservation Bill. Video
Women's Reservation Bill. Today is the second day of the special session of Parliament. Today is
Former Congress President Rahul Gandhi has resigned from Amethi. Now he will contest el
