Credit Suisse Bank will be probably be saved after UBS Bank acquisition of the Famous Bank for nearly 3.25 Billion $.Credit Suisse Bank has remained in doldrums for nearly more than 2 Years. The stock prices of the Bank has plunged to all time low due to the internal turbulence .
This new development has came after Swiss Central Bank offered to provide loan of 54 Billion francs to the troubled Bank. Credit Suisse Bank is one of the top and important global bank which is pivotal for functioning of world banking.
Any Fall of Banks of such a large and important stature will create rippling affects all across many Banking Institutions all across the world which will wreak havoc in the Country.
The USB and Credit Suisse Bank Settlement will ensure safety of Banking System and help pacify the investors and stockholders mental disturbance.
An Ordinance of Emergency Nature was passed by BERSET, a seven member governing Body to sail the deal through without the assent of Shareholders.
Credit Suisse was expected to Collapse after the Fall of SVB Bank and Signature Bank in US , However, UBS Bank Saved it and Swiss Federal Council BERSET let the deal through without shareholders nod.
Why Credit Suisse is important? Credit Suisse has more than Trillion$ of Assets under management. Credit Suisse is a major advisor of global acquisitions and manages trading desks of many top wealthy business Firms.
The European Central Bank President Christine Lagarde appreciated the efforts under taken by UBS Bank member of Swiss Federal Council Alain Berset and UBS Bank. Swiss Finance Minister Karin Keller was happy of this development and sad too that Credit Suisse got involved in Turmoil.
Credit Suisse Chairman Axel Lehmann quoted the merger as a Milestone.
