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.
Iran has retaliated after Israel attacked nuclear plants. Iran's Supreme Leader Ayatollah Ali Kha
These days the issue of work shifts is hot in Bollywood corridors. After becoming a mother, Deepi
Punjab Revenue, Rehabilitation and Disaster Management Minister Hardeep Singh Mundian said that i
There is reportedly a rift between Elvish Yadav and Prince Narula. Many times, news of difference
Pakistan, which is facing a cash crunch, has got a big relief. A staff-level agreement has been r
Dismissing all the rumours about the Covid-19 vaccine across the country, the Indian Council of M
The deployment of central forces started in West Bengal after the order of the Supreme Court. The
Sardaar ji 3 Collection: Hania-Diljit's film rocks the box office, earns so much in two days
On June 27, Diljit Dosanjh returned to theaters with the third installment of his hit franchise S
Brij Bhushan Sharan Singh has spoken after the FIR was lodged against him. He has expressed full
New Delhi, JNN. Horror films have a strong fan following in India as well, which delights in bein
