Rebirth Strongest Tycoon

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The intervention of the Government of Hong Kong caused a great shock to the Hong Kong banking industry.

First, Hang Lung Galaxy and Ka Wah Bank were forcibly taken over by the Government of Hong Kong, and Brother Chuang and Brother Liu were restricted from exiting the country. The Financial Bureau intervened in the two banks to start checking accounts.

Only after the Financial Bureau finds out that Brother Chuang and Brother Liu are not at all suspected of financial fraud or transfer of assets and other illegal activities, can they restore their personal freedom.

Although the Government of Hong Kong took over the two banks, the run turmoil caused by the two banks has spread to all small and medium banks in Hong Kong. Many older citizens have had the run turmoil more than ten years ago in their minds.

The run crisis that began by Liao Chong Hing Bank in 1961 has continued to have subsequent effects. In 1965 and 1967, large-scale runs broke out. It can be said that the 60s was a dark period for Hong Kong’s banking industry. There were many failed banks. Many savers lost their money.

The current run on Hang Lung Bank and Ka Wah Bank is no smaller than it was in the past.

Many older citizens explained to younger citizens about the run-off that occurred more than ten years ago, which caused the entire Hongkongers to panic, and more and more people went to the small and medium-sized banks to withdraw money.

Seeing this situation, Murray MacLehose successively urged Xia Dingji to speed up the investigation of the foundation of the two major banks.

I didn’t expect to check it out yet, and suddenly it broke out that Xie Liyuan Gold Shop had run out of funds.

Xie Liyuan Gold Shop is a well-known big gold shop in Hong Kong. It was founded in 1867 and is a 100-year-old shop.

In the past few years, Xie Liyuan Gold Shop launched the “1000 Pure Gold Accumulation Plan” to start the trading of gold futures. The public can open gold accounts and buy and sell gold at the same day gold price set by Xie Liyuan Gold Shop.

Because Xie Liyuan Gold Shop itself operates gold, the gold futures purchased by the public can be directly exchanged for real gold, which gave the public a strong confidence in Xie Liyuan Gold Shop, so it became popular in Hong Kong once it was launched.

It’s just that after launching the paper gold business, Xie Liyuan Gold Shop will diligently buy gold in the international market. However, over time, Xie Liyuan Gold Shop becomes slack, management is out of balance, and funds are misappropriated, resulting in Xie Liyuan Gold Shop’s own failure. Large-scale gold reserves.

Coupled with the sudden rise in international gold prices, Xie Liyuan Gold Shop also suffered serious losses.

But fortunately, it concealed it properly, and the public did not at all discover the problem.

It’s a pity that Hang Lung Bank and Ka Wah Bank exploded in the gold futures business, which caused a run. The gold futures orders were unable to accept it. Many citizens immediately thought of the paper gold in their hands and hurried to Xie Liyuan Gold Shop to accept it.

Xie Liyuan Gold Shop does not have a large-scale gold reserve, and there is little liquidity. In the face of customers brandishing paper gold bills, Xie Liyuan Gold Shop’s funds directly bottomed out and reluctantly closed the door and refused to pay.

After Hang Lung Bank and Ka Wah Bank, another gold shop was on the verge of bankruptcy. The citizens’ already fragile nerves were tightened again. More people were rushing to withdraw money from banks where deposits were made. The controllers of the banks couldn’t help but swear. Xie Liyuan Gold Shop.

The number of victims who came to the Government of Hong Kong to petition once again increased. Murray MacLehose was furious, and once again recruited people from the tax department, and at the same time conducted a regulatory investigation on the Xie Liyuan Gold Shop.

As a result, on the fourth day, that is, on March 3, the smallest Xie Liyuan gold store directly announced its bankruptcy, and the 17-year enterprise collapsed.

At the Jiuding Bank Building in Central, Xia Yu and Liu Tianci looked at the crowded lobby of the bank, and both smiled with satisfaction.

Other small and medium-sized banks are worried about the crowds in their business halls, because all they go to withdraw money.

However, Jiuding Bank does not want more people to come, because except for a few people, most people come to deposit.

At this critical time for the banking industry, Jiuding Bank relies on the Jiuding Cultural Media Group and has a huge advantage in public opinion. After repeated publicity, the public has a lot of confidence in Jiuding Bank.

Although Jiuding Bank is a new large bank, who makes Jiuding Bank strong in capital, so it can rise against the market and absorb reserves on a large scale.

“Board-Chairman, I didn’t expect to wait for news from Hang Lung Bank and Ka Wah Bank. On the contrary, Xie Liyuan Gold Shop, which was not concerned, went bankrupt.”

Liu Tianci sighed, with an inexplicable smile on his face. At that time, he was surprised when he learned that Xie Liyuan gold shop had a problem, but he was not at all sympathetic. Although Xie Liyuan gold shop was affected, but if it did not show up by itself Problem, it will not go bankrupt.

I can only say reap what you have sown!

Xia Yu laughed and said calmly: “Xie Liyuan’s gold store closed down because I deserve it. I can’t blame others. If you don’t explode now, you will also explode later, and you will die sooner or later.”

“Look closely, Hang Lung Bank and Ka Wah Bank can’t handle it anymore. They will declare bankruptcy in at most 2 days. The Government of Hong Kong will choose to find other banks to take over. Hongkong and Shanghai Bank and Standard Chartered Bank will not Let the dead rabbits not pick them up.”

Liu Tianci nodded replied: “Don’t worry, our bank is a major creditor of Hang Lung Bank and Ka Wah Bank. Even if Hongkong and Shanghai Bank and Standard Chartered Bank use the relationship, our bank has a great chance of winning.”

“Well, you just have to grasp it!”

Xia Yu said with a smile and nodded.

……

Hongkong and Shanghai Bank Building, Michael Sandberg put down his newspaper and listened carefully to the report by Tom Yasuo, manager of the mergers and acquisitions department.

“Board-Chairman, I have already inquired clearly. Hang Lung Bank misappropriated customers’ funds to purchase gold futures and caused a loss of 3 million HKD. In terms of other accounting matters, the Financial Bureau is still calculating.”

“K. Wah Bank has a smaller loss, but it also lost 220 million HKD in its gold business.”

“According to our analysis, the probability of bankruptcy of Hang Lung Bank and Ka Wah Bank has reached 95%.”

“Hang Lung Bank and Ka Wah Bank have acquisition value. Hang Lung Bank’s net assets are between 2.800 million and 3.500 million, and total assets are probably above 3500 million HKD. Ka Wah Bank’s net assets are between 200 million and 250 million. total assets are above 2.5 billion HKD.”

“If HSBC buys shares in two banks, after the capital injection, the two banks will be able to tide over the difficulties. As long as we operate properly, we can cover the losses in about 2 to 2 years.”

After listening to it, Michael Sandberg thought for a moment, and instructed Tom Yasuo: “You are ready to wait until Hang Lung Bank and Ka Wah Bank go bankrupt to contact the Government of Hong Kong as soon as possible. It is best to take over.”

“Yes!”

Tom Yasuo replied, then turned and left.

In 1965, Hang Seng Bank, one of the largest Chinese-funded banks at the time, was hit by the run-on storm. At that time, it was not bankrupt. He Shanheng, then Board-Chairman, borrowed money from four places to prepare for emergency.

However, He Shanheng’s wealthy businessmen and banks who had a good relationship did not lend a helping hand. He had no choice but to ask the foreign firm for help, and went to Hongkong and Shanghai Bank. As a result, Hongkong and Shanghai Bank agreed to help Hang Seng Bank with unlimited funds to help them tide over the difficulties.

However, the condition of Hongkong and Shanghai Bank is to eat Hang Seng Bank and buy 51% equity shares of Hang Seng Bank. He Shanheng only agreed to 35% equity shares. Unfortunately, in the end, in order to prevent Hang Seng Bank from failing to survive, He and Hang Seng The board member bureau had no choice but to accept the terms of Hongkong and Shanghai Bank.

To this day, Hongkong and Shanghai Bank still hold 51% equity shares of Hang Seng Bank, and a huge Chinese bank has become a pawn of Hongkong and Shanghai Bank.

This time the situation is different from before. Hang Lung Bank and Ka Wah Bank are the source of the run, and it is too late for Hongkong and Shanghai Bank to help.

But this time the opportunity is even greater. What Michael Sandberg wants more is to eat all of the two banks.

As long as the two banks declare bankruptcy and liquidation, with the capabilities of Hongkong and Shanghai Bank, they can take over the two banks without spending a penny, and the cost is only to bear the debts of the two banks.

With the strength and prestige of Hongkong and Shanghai Bank, Michael Sandberg is confident that as long as he takes over the two banks, he will be able to survive the run safely, and then spend a few years to operate, so that Hang Lung Bank and Ka Wah Bank can make up for the profits. In this way, the equivalent to Hongkong and Shanghai Bank picked up two banks for nothing, and the cost was only a very low debt and a few years of useless business that’s all.

If the market is good, it may be able to make back the losses after two or even one year of operation.

This is much more cost-effective than spending money to buy a stake in Hang Seng Bank in 1965, and it is not just a 51% stake, but it can be swallowed all.

Bank bankruptcy means that the bank’s net assets are lower than the loss, not the bank’s total assets.

Generally, the net assets of banks are less than 10% of the bank’s total assets. It is precisely because of this that banks have such high returns.

So even if Hang Lung Bank and Ka Wah Bank went bankrupt, in fact both banks still have assets of 2-2 billion HKD. These assets do not belong to the bank in essence, but are managed by the bank and are mortgaged real estate and loans issued. , Bonds, etc.

If it is possible to have zero costs, or at the expense of low debts in the north, these two banks are taken over, and equivalent to directly brings in 2-5 billion deposits and business volume. Where can I find such a large cake?

Of course, not everyone has the ability to bring them back to life after taking over the two banks. There are not many in Hong Kong who have this ability.

Standard Chartered Bank counts one, Jiuding Bank counts one, Swire Group counts one, and Bank of China counts one. Of course, the branches of major British and American banks in Hong Kong also have the same strength and qualifications.

The controllers of these banks and influence are not good, and they have the same idea as Michael Sandberg. When the time comes, it depends on who has the highest means and can eat the meat in his mouth!

Big players sharpen their teeth, waiting for Hang Lung Bank and Ka Wah Bank to go bankrupt.

Soon, two days passed, and in a blink of an eye it was March 2th.

The Government of Hong Kong finally checked the situation of the two banks clearly. No surprise, both banks are insolvent.

After Hang Lung Bank’s net assets offset the losses, the net assets are negative 2 1000 3 1 million HKD.

After the net assets of Ka Wah Bank offset the losses, the net assets were minus 1000 6 1 million HKD.

Two banks went bankrupt at the same time! The Government of Hong Kong held a press conference to allow depositors to wait patiently and will give all relevant depositors an explanation.

And all the crocodiles, who had been waiting for a long time, were all dispatched in an instant!