Siheyuan (courtyard house): My name is Shazhu!
Chapter 318 The First Financial Run Occurs!
Before He Yuzhu left Hong Kong, he handed over all the affairs here to Zhao Youcai, which was essentially a run on Hang Seng Bank.
Moreover, He Yuzhu had already arranged for Kuang Biao's team to investigate this matter last year, so He Yuzhu did not believe that this was an accident.
The absence of Hang Seng Bank was an accident!
The existence of Hang Seng Bank is no accident!
One of the three currency-issuing banks was later acquired by Niu Feng Bank at a very low cost, which solidified their position in the port city. It would be strange if there was nothing fishy going on!
This is not a case of delusional persecution; there are too many suspicious points in it. Who among the wealthy people here would keep quiet?
There are many wealthy people in this local bank. Why would they be in such a hurry if they couldn't come up with two or three hundred million? Why was NYC Bank able to acquire 51% of the shares with only HK$51 million?
He Yuzhu left before Hang Seng Bank's collapse in order to stay a few more days in Niu Niu's hometown and build connections. The following ten years were the darkest years.
He Yuzhu didn't want anything to happen at this time!
Unfortunately, some people disagreed with granting him the title of baron, specifically regarding his direct entry into the House of Lords!
People with different skin are not recognized!
Otherwise, it would be even more awesome to go back to the port city!
On April 5, Hang Seng Bank lost HK$4 million in deposits in a single day, accounting for one-sixth of the bank's total deposits. By early April, it had lost a total of HK$4 million.
Internal disagreements arose, leading to the acceptance of aid from Chase Bank in the United States; the closure of the business and its takeover by the government; and the request for assistance from Niu Feng Bank in Hong Kong and Shanghai.
A voice came through, "We should ask Dongda Group for help; the cost should be minimal."
Yes, the first three plans were all out of necessity. How could we forget about Dongda Group? Their banking affairs are all internal and their reputation is not well-known, but that doesn't mean they lack strength!
"No problem. How much funding do you need? How much will we guarantee for you? Is 1.5 billion enough?"
"Your company has no conditions?"
"Just use the normal interbank lending rate. We're all Chinese, and we'll help if we can."
Zhao Youcai's answer made the Hengsheng boss want to cry. They'd been worrying about this for so many days, and all he said was, "I can help, but that's it!"
Having made up his mind, the boss said, "Three hundred million in cash is more than enough to cover the payment. It would be even better if your company could hold a press conference and announce to the outside world that you've guaranteed our services, but that's not a requirement!"
"Holding a press conference is a minor matter. You can withdraw money from our bank. We've already made preparations. Any bank that needs our support can do so."
"Go ahead and get busy. I'll have someone call a press conference. It's a small matter, so get it done quickly."
He Yuzhu didn't care about Hang Seng Bank at all; keeping it was just a dream, since he wasn't a local.
There are many more banks that can make money. As a local bank, I am far behind Bank of Canada and Bank of Canada, which have already embarked on the path of internationalization.
His own henchmen, nicknamed "Niu Niu," have already acquired three small banks in the banking country and are now expanding outwards.
The banks owned by the US's allies are even faster. With the support of their various allies, they have taken over banks covering two-thirds of the US and completed the construction of domestic bank branches within five years.
With these two, plus the four or five banks in Malaysia, and the bank opened by Sun Dewang and his associates, that's enough.
The addition of Hang Seng Bank is merely icing on the cake and cannot meet the demand.
At 11:00 AM, Dongda Group held a press conference, where the general manager of Dongda Bank directly announced: "We have lent 300 million to Hang Seng Bank and provided a 1.5 billion guarantee for the bank."
Customers who do not believe this can withdraw money at Hang Seng Bank or East China Bank. At East China Bank, withdrawals are accepted in Hong Kong dollars, NT dollars, and US dollars.
Thank you everyone, that's all I have to say. He then left without a care in the world, as if 1.5 billion were just 15 dollars, not worth mentioning.
These words bring joy to some and sorrow to others!
Hang Seng Bank customers no longer need to worry. With Dongda Bank backing them, there's no problem. They are financially strong, backed by the Dongda Group, and they don't seem to do much publicity usually.
Now we know that we can try depositing our money in another bank, because their bank is safer!
As a result, after more than a year, the staff at the front desk of Dongda Bank who handled deposit and withdrawal services were full of resentment, and their workload more than doubled.
General Manager, add more money!
Our fingers hurt!
Just bear with it; your jobs used to pay quite well.
The amount of money withdrawn from Hang Seng Bank that day was less than one million dollars; they had that little bit of money.
Staring blankly at the three huge piles of 300 million in cash, they thought, "We don't seem to need this money, and there are security issues with taking it back. What should we do?"
"Let's leave 100 million as a reserve fund, to be returned in two years. With interest and a certain amount, we'll raise 50 million, and then we'll give them 50% of the shares, how about that?"
"Isn't 50% a lot of shares? What if they interfere with our bank's operations and seize the bank..."
"You're overthinking it, and being petty. I borrowed money in just one sentence. If they really wanted to rob our bank, that would be a good thing. Look at their annual profits."
Then look at our bank, even with all the depositors' money combined, it's only a fraction of theirs. With Dongda Bank around, they haven't even ventured into the financial industry.
They're probably not familiar with it; they don't do it, just like their company's business—if they're not familiar with it, they won't want it even if they have it!
Everyone understands!
"That will work!"
Zhao Youcai agreed with Hang Seng Bank's approach, and then things remained the same: things would go their separate ways.
"They trust us so much that they didn't send a single person to hold a 50% stake, and they're not afraid we'll pull any tricks."
"We're still not broad-minded enough. Our annual profit is less than 1% of theirs. Why would they care about us? They won't care even if we don't sell our shares."
We sell, and they buy!
Then, the principle is to trust those you employ and not to employ those you distrust!
Don't overthink it, everyone. Let's get back to work.
The ambitious people were unhappy, but there was nothing they could do. Dongda Group hadn't meddled; they had been asked to do it by others.
Then the shares were handed over to them. From beginning to end, Dongda Group passively benefited. They were incredibly lucky. Who can they blame but themselves?
Man proposes, God disposes!
We have to think of other solutions!
The stock market did not recover despite the reduction in banking problems, and more people are holding cash and waiting to see what happens.
This caused the stock market to begin a gradual decline, which discouraged more people from entering the market to buy stocks, creating a vicious cycle that prevented the market from improving.
He Yuzhu returned in early May and went to Malaysia at the end of the month, leading people into the muddy monkey country.
He Yuzhu didn't come here for any particular reason. He no longer needed to do anything dangerous.
He came here to bury all sorts of weapons, from all kinds of countries, with many different brands, but in considerable quantities, for future use.
Five days later, He Yuzhu left, leaving behind 180 bio-engineered humans who were going to gather some people to form several armies.
With the events of September approaching, there can be no more massacres here; at most, it will be mutual fighting!
They expressed their helplessness, saying they were outnumbered and couldn't defeat the regular army!
For several years, things became even more frustrating. They were not the world's police, and they didn't have enough manpower, so attacking the leader was not very effective.
In short, we are truly helpless.
He Yuzhu returned to Gangcheng to spend time with his family and didn't care about what was going on with Mud Monkey.
It may be difficult to govern a country, but it's not difficult to deal with the chaos here. There's no need for him to worry about it!
Four-year-old He Mingzhi and He Mingxiao are very fun, innocent and pure, and the two boys and girls never fight!
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