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 Meteorological Department has issued an alert for heavy rain for three days in Himachal Prade
Indian cricket team's star batsman Virat Kohli is currently in superb form. The second match of t
Does Ajit Pawar want to become the CM of Maharashtra? He gave the answer in News' summit
As the date of assembly elections in Maharashtra approaches, the election activities are in full
Former India off-spinner Ravichandran Ashwin believes that India's rise as a force in the world o
Ranveer Allahbadia has been facing a lot of difficulties since the objectionable controversy in '
Bollywood's cute and talented actress Alia Bhatt is not dependent on any introduction today. Moth
For a long time, there have been rumors of the separation of choreographer and social media perso
Sikkim Chief Minister PS Tamang visited Singtam to assess the widespread damage caused by floods
Assam Chief Minister Himanta Biswa Sarma on Wednesday accused the Congress. Sarma said the Congre
Amid the US-Iran war, the 'Messiah' enters, offering free accommodation to those stranded in Dubai.
Whenever there's a call for help, a Bollywood star is sure to step forward. That name is Sonu Soo
