New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Who has acquired Switzerland’ s Credit Suisse Bank

    facing a financial crisis?
    A Credit Agricole Correct Answer Incorrect Answer
    B HSBC Correct Answer Incorrect Answer
    C Standard Chartered Correct Answer Incorrect Answer
    D UBS Group Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Swiss bank Credit Suisse has been bought by UBS Group AG for 3 billion francs ( $ 3. 3 billion) under an all- stock deal after it faced major financial setbacks. Credit Suisse was the 2nd largest bank in Switzerland which has been bought by its biggest rival UBS Group AG. The Swiss government has shown positive initiative to make this deal a success. The government has provided $100 billion in financial backstops to help the bank.

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