Credit Suisse acquired by UBS Bank in 2023

The video is about Merger happened between Credit Suisse and UBS AG bank....

UBS AG, major bank formed in 1998 by the merger of two of Switzerland's largest banks, the Swiss Bank Corporation and the Union Bank of Switzerland. 

Credit Suisse's story stretches back to July 5, 1856, when the prominent politician, business leader, and pioneer Alfred Escher founded "Schweizerische Kreditanstalt." The original purpose of the new bank known as SKA was to finance the expansion of the railroad network as well as the further industrialization.

The acquisition was an all-stock deal, with Credit Suisse shareholders receiving 1 UBS share per 22.48 Credit Suisse shares, equivalent to CHF 0.76 per share. The price was 1% of Credit Suisse's all-time high value in 2007.