
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.
Diplomats from India and the US are trying to organize a meeting between Prime Minister Narendra
After the defeat in the World Test Championship final against Australia, Indian captain Rohit Sha
Veer Bal Diwas: PM Modi said on Veer Bal Diwas, 'Today's youth wants to do something'
Veer Bal Diwas program was celebrated today at Bharat Mandapam in Delhi. Prime Minister Narendra
The Delhi High Court heard Chief Minister Arvind Kejriwal's petition challenging the arrest and r
The Supreme Court on Monday raised the question of how can chanting 'Jai Shri Ram' be a crime. A
A special court in Delhi has remanded Javed Ahmed Siddiqui, chairman of the Al-Falah Group, to 13
New information is continuously coming to light in the case of firing outside Salman Khan's house
The constituent parties of the Congress-led opposition alliance 'India Bloc' on Wednesday walked
The first match of the three-match T0 series between India and Ireland will be played in Dublin o
The Bharatiya Janata Party (BJP) has strongly criticized Congress leader Rahul Gandhi. The BJP ta