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.
Karnataka Dengue Cases Karnataka is witnessing a steady increase in dengue cases. Due to the rapi
Cricket's 'Master Blaster' Sachin Tendulkar's funny response to a fan's question during a recent
Mumbai's explosive batsman Sarfaraz Khan got a chance to wear the jersey of the Indian Test team
We had come to see our stars. We had bought tickets for the ceremony but could not enter the stad
Delhiites are facing breathing problems. The AQI of many areas of the capital has been recorded a
Due to Prayagraj Maha Kumbh, the number of devotees in Ram Mandir has increased three times. Sinc
Prayers were offered for peace and prosperity in the country on Bakrid at the Taj Mahal. Morning
The Lok Sabha passed the Waqf Amendment Bill by majority at around 1 am on Wednesday. 288 votes w
Corona Cases in India: Coronavirus is scaring, 602 new cases found in the country Five people died
Corona Cases in India: A decrease in Corona cases was recorded in the country a day ago, but toda
New GST Rates: Answers to 10 questions arising from the decision of 5 and 12 percent GST, which directly affect the common man
The GST Council has made a historic reform in the rates of indirect taxes and has approved only tw
