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.
Voting is taking place today for the 119-member Telangana Assembly. More than three crore voters
Kithore assembly constituency, which comes under Meerut-Hapur Lok Sabha seat, has always been in
Indian cricketer Virat Kohli has been a topic of discussion on social media since liking Avneet K
The helicopter of Uttar Pradesh CM Yogi Adityanath, who was coming to address an election rally i
IND vs PAK: After the match, Indian and Pakistani players shook hands and applauded each other.
Blind women cricketers from India and Pakistan surprised everyone by shaking hands with each othe
Paresh Rawal will no longer be Babu Bhaiya of Hera Pheri world, this one news itself brought disa
It has been only a few days since the reality show 'Bigg Boss 19' started, but there has been a r
The uproar during Durga idol immersion in Bahraich, Uttar Pradesh has taken a big form. Arson and
Home Minister Amit Shah and CM Yogi Adityanath will hold a public meeting in Jaunpur on
Punjabi singer Guru Randhawa wrote a cryptic post targeting Diljit Dosanjh amid the 'Sardarji 3'
