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 air in the capital Delhi, continues to remain toxic. On Monday morning, thick smog enveloped
Battle of Galwan's heroine confirmed, director tells why Chitrangda was chosen opposite Salman Khan?
There was discussion on the heroine for Salman Khan's upcoming film Battle of Galwan. The name of
ONGC expert teams from Mumbai and Delhi have been dispatched to the site to extinguish a massive
The world champion football team Argentina crushed Coração 7-0 in an international
Slow wind speeds and adverse weather conditions have turned Delhi into a gas chamber. For the thi
SRH vs LSG Pitch Report: Fast bowlers are in awe of Lucknow's pitch, spinners impress on black soil
SRH vs LSG Pitch Report, IPL 2023. Lucknow Supergiants will host Sunrisers Hyderabad in the 10th
In every season of the reality show 'Bigg Boss', the contestants do something or the other, which
These days, tension between India and Pakistan is once again in the news. After the terrorist att
Ind vs Aus 5th T20: The last match of the five-match T20 series between Australia and India was f
The Malaysian Prime Minister indicated that his government can consider India's request for the e
