
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.
Amidst the severe cold, a significant drop in the morning temperature was recorded in Delhi on Fr
Assembly Election Result 2023. BJP has achieved a landslide victory in the assembly elections of
Salaar Day 12 Collection In India: Veteran South Cinema filmmaker Prashant Neel's most awaited mo
A few days ago, a train hijack incident took place in Balochistan, a terror-hit Pakistan. Baloch
Chennai Super Kings, which is struggling with a lack of consistency in its performance, will be e
PM Modi: Prime Minister Modi has a deep relationship with Tamil Nadu, 32 years old pictures surfaced
When Prime Minister Narendra Modi often talks about his old connection with a place, it has a dee
The Board of Control for Cricket in India (BCCI) released the schedule for Team India’s 202
Indian shooters performed brilliantly on Friday (September 29) on the sixth day of the Asian Game
West Bengal Chief Minister Mamata Banerjee fell for some reason while walking at her residence la
India's policy regarding the new situation in Bangladesh is slowly taking shape. Under this, cont