
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 wait of more than 16 lakh students of the state is over for the announcement of the results o
Jailer Twitter Review: Before 'Gadar 2' and 'Oh My God-2' hit the theatres, South Superstar Rajin
In the first match of the 16th season of the Indian Premier League (IPL 2023), Gujarat Titans def
The fourth match of the five-match Test series between India and Australia is going on in Melbour
The central government has increased the security of External Affairs Minister S Jaishankar. ANI
SIR in UP: The date for the SIR process has been extended in UP. BLOs have the 2003 voter list.
To ensure transparency and ease of district election operations, District Magistrate Santosh Kuma
Today is the last working day of the first phase of the current budget session of Parliament. Dur
Congress leader Rahul Gandhi is ready to start the 'Bharat Nyay Yatra' on January 14. This journe
On the occasion of the completion of 75 years of adoption of the Constitution, the Central Govern
The Australian cricket team has made several changes to its team for the fourth and fifth Tests a