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 news of the affair between Indian cricket star Hardik Pandya and British singer Jasmine Walia
From now on, the country's general budget is going to be presented. From the common man to people
The figure of the huge amount recovered by the Income Tax Department from liquor companies, resid
The big meeting regarding Khalistan, which was held in the US capital Washington, has revealed ma
The attraction of the famous Chitrakoot Falls of Chhattisgarh took me to Bastar, Dantewada, and J
The final match of the Champions Trophy 2025 will be played between India and New Zealand in Duba
17 days have been completed in the ongoing farmers' agitation on the Shambhu and Khanauri borders
Gold-Silver Price Today: Silver Drops ₹3,742, Gold Falls ₹269; Check Latest Rates by Carat
Gold and silver prices declined on Friday, September 11, with both precious metals witnessing a f
'Congress has the right to protest, but not to loot land and money'; BJP's big attack on Congress.
BJP MP Ravi Shankar Prasad addressed a press conference on Congress' announcement of protests out
Raksha Bandhan Aarti Thali: The festival of Rakshabandhan is celebrated every year on the full mo
