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.
After India's successful landing on the moon, preparations have now begun to send passengers into
BJP has supported the influencer and student Sharmistha Panauli, who was arrested by Kolkata Poli
Voting is going on in all 288 assembly seats in Maharashtra. Voting figures till 9 am have come.
Israel has intensified its air strikes on Lebanon to eliminate the Iran-backed terrorist organiza
West Bengal Violence Once again an incident of violence has come to the fore in the Hooghly distr
The Indian women's cricket team created history in Hangzhou on Monday. Harmanpreet Kaur-led India
Sunil Gavaskar's prediction for CSK ahead of IPL 2024: The excitement for Indian Premier League (
IPL 2024: Virat Kohli's stormy innings kept RCB in the playoff race, Punjab Kings' hopes dashed
Royal Challengers Bangalore defeated Punjab Kings by 60 runs in the 58th match of IPL 2024 on Thu
Urfi Javed has been in the news recently for the show 'The Traitors', in this show, she played a
Rallies were taken out by tribal groups in several districts of Manipur following which violence
