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.
India's defense forces have carried out precision strikes on terrorist hideouts in Pakistan and P
Now only a few hours are left for the launch of India's first Sun mission Aditya L1. Aditya L1 wi
President Draupadi Murmu will address the nation on Thursday ahead of the 79th Independence Day.
India is the fourth largest research country globally. According to data from the research databa
In the latest episode of the controversial reality show Bigg Boss 18, Gunaratna Sadavarte has don
On Tuesday, the water level of the Yamuna River on Delhi's old railway bridge has once again rise
The campaigning has intensified before the polling on November 20 in Maharashtra. In this episode
A doubleheader was played in IPL 2025 on Sunday. In the first match, Punjab Kings won by 10 runs
Shahrukh-Gauri Wedding Anniversary: It is said, 'If you love something deeply, the whole universe
Not only cricket lovers but Rinku herself is very sad due to Rinku Singh's selection in
