v2 Chapter 578： Predators grab a big meal

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

First, Hang Lung Galaxy and Ka Wah Bank were forcibly taken over by the Hong Kong government, and the Chuang brothers and Liu brothers were restricted from leaving the country. The Financial Bureau intervened in the two banks and began to check their accounts.

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

Although the Hong Kong government took over the two banks, the run on the two banks has spread to all small and medium-sized banks in Hong Kong. Many older citizens have the run on the run more than ten years ago.

Since 1961, Liao Chong Hing Bank began to have a run on the bank, and its subsequent impact has always existed. In 1965 and 1967, a large-scale run on the bank broke out. It can be said that the 1960s was a dark period for Heung Kong's banking industry. There were many failed banks. Many savers lost their money.

The run-ups caused by Hang Lung Bank and Ka Wah Bank are no smaller than in the past.

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

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

Unexpectedly, it hadn't been found out yet, and suddenly it broke out that Xie Liyuan's 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 century-old store.

In the past few years, Xie Liyuan Gold Shop launched the "Thousand 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, giving the public a strong confidence in Xie Liyuan Gold Shop, so it became popular in Xiangjiang 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 has become 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 citizens did not discover the problem.

It is a pity that Hang Lung Bank and Ka Wah Bank exploded in the gold futures business, which caused a run, and the gold futures order was 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 waving paper gold bills, Xie Liyuan Gold Shop’s funds directly bottomed out, and they had no choice but to close the door and refuse to pay.

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

The number of victims coming to the Hong Kong government to petition increased again, and 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 17, the smallest Xie Liyuan gold store directly announced its closure, and the century-old 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.

But Jiuding Bank does not want more people to come, because except for a few people, most people come to make deposits.

At this critical time for the banking industry, Jiuding Bank, backed by Jiuding Culture Media Group, has a huge advantage in public opinion. After repeated publicity, the public has great 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.

"Chairman, I didn't expect to wait for the news of Hang Lung Bank and Ka Wah Bank. On the contrary, Xie Liyuan Gold Shop, which he did not follow, 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 did not feel sympathy. Although Xie Liyuan gold shop has been affected, but if it does not cause problems. , It will not go bankrupt.

I can only say that it is self-inflicted!

Xia Yu smiled and said in a calm tone: "Xie Liyuan's gold store closed down because he deserves it. I can't blame others. If you don't explode now, you will also explode later, and you will die sooner or later."

"Hang Lung Bank and Ka Wah Bank can't handle it anymore. They will declare bankruptcy in at most two days. At that time, the Hong Kong government will choose to find other banks to take over. HSBC and Standard Chartered Bank will not let go of dead rabbits. of."

Liu Tianci nodded and replied: "Don't worry, our bank is a large creditor of Hang Lung Bank and Ka Wah Bank. Even if HSBC 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.

...

At the HSBC Building, Shen Bi put down the newspaper in his hand and listened carefully to the report by Tom Yasuo, manager of the M&A department.

"Chairman, I have already inquired clearly. Hang Lung Bank misappropriated customers' funds to purchase gold futures and caused a loss of 320 million Hong Kong dollars. The Financial Bureau is still calculating other accounts."

"K. Wah Bank has a smaller loss, but it also lost 220 million Hong Kong dollars 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 280 million and 350 million, and the total assets are about 3.5 billion Hong Kong dollars. K. Wah Bank’s net assets are between 200 million and 250 million. Above 2.5 billion Hong Kong dollars."

"If HSBC buys shares in the 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 three to four years."

After hearing this, Shen Bi thought for a moment, and said to Tom Yasuo: "You are ready to wait until Hang Lung Bank and Ka Wah Bank go bankrupt to contact the Hong Kong government as soon as possible. It is best to take over."

"Yes!"

Tom Yasuo replied, then turned and left.

In 1965, the Hang Seng Bank, one of the largest Chinese banks at the time, was hit by the run-on storm. At that time, it hadn't gone bankrupt. He Shanheng, then chairman, borrowed money to prepare for an emergency.

However, He Shanheng's wealthy businessmen and banks who had a good relationship did not lend a hand. He had no choice but to ask the foreign bank for help and to HSBC. As a result, HSBC agreed to help Hang Seng Bank with unlimited funds to help it tide over the difficulties.

However, HSBC’s condition was to eat up Hang Seng Bank and purchase a 51% stake in Hang Seng Bank. He Shanheng only agreed to a 35% stake. Unfortunately, in the end, in order to avoid Hang Seng Bank’s failure to survive the bankruptcy, He and the Hang Seng Board of Directors had no choice but to accept it. HSBC's conditions.

To this day, HSBC still holds a 51% stake in Hang Seng Bank, and a large Chinese bank has become a **** of HSBC.

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 HSBC to help.

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

As long as the two banks declare bankruptcy and liquidation, with HSBC's ability, 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 power of HSBC, Shen Bi 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 the profits made by Hang Lung Bank and Ka Wah Bank can make up for the losses. For one thing, it is equivalent to HSBC picking up two banks for nothing, at the cost of very low debt and a few years of in vain operation.

If the market is good, you might make a profit in two years or even a year.

This is much more cost-effective than buying 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 lower than the total assets of banks and it is for this reason that banks have such high returns.

So even if Hang Lung Bank and Ka Wah Bank go bankrupt, in fact both banks still have two or three billion Hong Kong dollars in assets. These assets do not belong to the bank in essence, but are managed by the bank. The mortgaged real estate, the loans released, Bonds and so on.

If you can take over these two banks at zero cost, or at the expense of low debts going northward, it is equivalent to directly bringing in five or six billion in deposits and business volume. Where can you find such a big 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 Xiangjiang who have this ability.

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

The helms of these banks and forces are not good stubborns, and their ideas are similar to those of Shen Bi. Then it will be up to whoever has the highest means to eat the meat in his mouth!

All predators sharpened their teeth, waiting for the bankruptcy of Hang Lung Bank and Ka Wah Bank.

Soon, two days passed, and in a blink of an eye it was March 19.

The Hong Kong government finally checked the situation of the two banks clearly, and it is no surprise that both banks are insolvent.

Among them, after the net assets of Hang Lung Bank offset the losses, the net assets were negative 23 million Hong Kong dollars.

After the net assets of Ka Wah Bank offset the losses, the net assets were minus 16 million Hong Kong dollars.

Two banks went bankrupt at the same time! The Hong Kong government 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 dispatched in an instant!

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