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 Malaysian Prime Minister indicated that his government can consider India's request for the e
Chief Minister Yogi Adityanath and prominent saints have issued an appeal to the devotees who hav
The accused of terrorist attack on a Hindu man in Chakeri, Kanpur were sentenced to death. During
Amidst the fervor of the Haryana assembly elections, Rahul Gandhi reached the house of Amit Mann,
Prime Minister Narendra Modi attended the 'Navkar Mahamantra Diwas' program at Vigyan Bhavan in N
Hanuman Box Office Day 8 Collection: Telugu film 'Hanu Man', directed by Prashant Verma, competed
The 18th season of IPL has not been anything special for five-time champion Chennai Super Kings (
The case of the suicide of AI engineer Atul Subhash in Bengaluru is now gaining momentum across t
All is not well between star footballer Lionel Messi and his club Paris Saint Germain (PSG). Acco
The Congress party has reached the Supreme Court in support of the Places of Worship (Special Pro
