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 Central Bureau of Investigation (CBI) on Monday completed the second round of polygraph tests
After the film 'Saalar Part 1 Ceasefire', South superstar Prabhas is now in the headlines for his
Indian women's cricketer Smriti Mandhana has been continuously in the headlines. After her weddin
SRH vs MI Dream 11: Batsmen will roar a lot in Hyderabad, playing 11 of both teams will be like this
The 25th match of IPL 2023 will be played between Sunrisers Hyderabad and Mumbai Indians. The mat
Weather Update: The mercury has started falling due to snowfall in the hilly areas. Be it Kashmir
The first meeting of the 14-member coordination committee of the opposition India alliance will b
Prime Minister Narendra Modi will inaugurate the country's first underwater metro in Kolkata toda
The Joint Parliamentary Committee (JPC) constituted on the Waqf Amendment Bill will visit all the
Indian Army Chief General Upendra Dwivedi's statement regarding Pakistan has sparked political tu
The exit polls for Maharashtra Assembly Elections 2024 have shown a tough fight between the Maha
