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 situation in India's neighboring country, Bangladesh, remains very unstable. Meanwhile, Prime
Assembly elections are approaching in Assam. Prime Minister Narendra Modi will embark on a two-da
India got defeated by 21 runs in the third ODI against Australia. With this defeat, Team India al
Mauritius Prime Minister Navinchandra Ramgoolam announced on Tuesday that Prime Minister Narendra
Former Pakistan cricket team cricketer Basit Ali has recently made a big statement about India's
Today, from July 1, 2025, many big changes are being implemented in the country, which will direc
More than 140 crore Indians are eager to welcome astronaut Shubhanshu Shukla, who made India prou
Prime Minister Narendra Modi departed for South Africa today. Departing from New Delhi for Johann
If you are a fan of 'Harry Potter' series then you must remember 'Professor Severus Snape'. Holly
Today's morning was special. Leaving behind old memories, we stepped into the new year. While 202
