nashuaworldcup Chapter 201: The annexation of two major banks, the birth of White Dragon Bank!
Chapter 201: The annexation of two major banks, the birth of White Dragon Bank!
Don’t want to buy it?
While they were still hesitating, those with smart minds had already raised their hands:
"Mr. Li, I'll buy it!"
"I want to buy it too!"
It wasn't until well after midnight that the group dispersed.
Li Qilin was so excited that he even forgot to knock on the door and yelled:
"President, those people are really crazy. They absorbed most of our accumulated subprime mortgages in an instant.
We returned 500 billion yen in one fell swoop, President..."
He looked dumbfounded at Quan Jingjing, who was leaning over Wang Lei, and apologized hastily:
"President, did I come at the wrong time?"
"It's alright, go ahead and talk."
Quan Jingjing buried her head in Wang Lei's chest embarrassedly.
"oh oh."
"I also received a notice from Shigeyasu Sanno that they will foreclose on the two banks in seven days, so we can be prepared."
In order to reduce the incident, Sanye Shigeyasu notified only a few companies that had the strength to participate in the competition.
In Wang Lei's opinion, he will not participate in the bidding of these two companies at all.
Such a big thing happening in the banking industry cannot be hidden from others.
Sanno Shigeyasu's new policies have made investment banking a very unreliable thing. The next four to five years will be the demise of the banking industry, and no one will be willing to get involved in this muddy water.
"Well, very good, Qilin, it's up to you to participate in this foreclosure."
Li Qilin hurriedly agreed and carefully closed the door for the two of them.
He breathed a heavy sigh of relief. Fortunately, the president didn't look angry.
……
Seven days later, Li Qilin appeared at the forensic auction site, with people shouting from one side and the other side shouting from behind.
"President Li!"
"President Li!"
People at the venue stood up one after another and said hello to Li Qilin.
Li Qilin nodded in response.
Before the foreclosure auction officially started, the auctioneer realized that the two banks had become the possessions of the Bailong Consortium.
Sure enough, when the auction started, Li Qilin stopped pretending and directly quoted the lowest price.
Others have no intention of making an offer at all.
The auctioneer symbolically asked the price three times, and the gavel in his hand fell heavily.
"50 billion deal!"
"Next is the auction for Hanwa Bank, with a starting bid of 70 billion yen."
"Start bidding now."
Hanwa Bank is a little larger than Hyogo. What surprised the auctioneer was that the two banks did not have many valuable assets. Has the banking industry become so corrupt?
Li Qilin lazily raised his number plate:
"White Dragon Gold Institute, 70 billion yen."
"Is there a higher price?"
After asking three times, the auctioneer gave the hammer down.
After receiving such a result, Ichiro Aida and President Hanwa who were present at the scene both let out a sigh of relief.
Li Qilin walked towards them:
"Congratulations to everyone. I have seen their efforts. I will hire two vice presidents of the new bank as agreed."
Aida Ichiro couldn't help but ask one more question:
"President, are you planning to merge our two banks?"
Li Qilin smiled:
"It's not just you, Mr. Wang Lei plans to merge the three groups of Bailong Financial Institution, Hyogo Bank, and Hanwa Bank, and officially change the name to Bailong Bank!"
Ichiro Aida and President Hanwa were shocked and felt a little uncomfortable.
It sounds like a merger, but in fact it is an annexation.
Just annex it, it's better than everyone losing their job.
At their age, losing this job is equivalent to retirement.
And they have kept the jobs of their people, now that the economy is in recession and the unemployment rate remains high.
This may be the best outcome for them.
The collapse of the two banks left the people of Sakura Island in mourning. Most of the depositors did not purchase insurance. Except for some symbolic compensation, they almost lost everything.
Fortunately, the Bank of Japan urgently issued a new policy on financial management of bank failures. Although it did not satisfy all depositors, fortunately, the people of Sakurajima were used to corporate failures and were very nervous, so they quickly accepted this fact.
However, the collapse of two major banks still caused panic among the people, and some banks even experienced bank runs.
The banking sector is in mourning again, with more than a dozen banks in crisis due to runs.
They once again asked Sanye Shigeyasu for help, but unfortunately they were turned down.
“If everyone asks the Bank of Japan to allocate funds when facing a crisis, wouldn’t it mean that the reform has failed at the beginning?
So what’s the point of implementing a final elimination system? "
That being said, the bankers still felt that Big Brother was unreliable and actually chose to leave them to fend for themselves.
Some bankers had an idea: Didn't we pay [-] million in tuition? How long will it take if we don't ask the teacher for help now?
They swarmed to Wang Lei's club again.
"Teacher, save us."
Seeing so many people falling to their knees crying and howling.
Wang Lei was also shocked. He didn't know that he was dead, and these people came to mourn.
Li Qilin, who knew the inside story, explained it in Wang Lei's ear.
"A run crisis? You have found the right person in me."
Everyone pretended to wipe their tears and looked at Wang Lei expectantly.
"Well, it just so happens that our Bailong Bank has just completed its integration and we want to announce this good news to the outside world.
It won't be difficult to save you. I plan to establish a banking association.
Our original intention is to help each other. As long as you join the non-governmental mutual aid association we established, people's panic will naturally disappear. "
Li Qilin's eyes lit up when he heard this.
The president has such a sophisticated strategy. In this way, Bailong Bank, a new player, has suddenly become a leader in the banking industry!
Don't underestimate the power of self-organized industry guilds. Uniting together has a power that cannot be underestimated.
What's more, this is not an ordinary industry, it is the banking industry as the cornerstone of the economy!
Over time, the White Dragon Consortium will surely become Sakura Island's leading conglomerate.
Bankers got excited too.
"Yes, the Bank of Japan officially doesn't want to spend its national savings on aiding us anymore. We can always set up an association to help ourselves."
"We are willing to follow the teacher's footsteps, and we are willing to join the Banking Association!"
Nowadays, the Bailong Consortium has a wealthy image in the eyes of the public. Now that Bailong Bank is on their behalf, it can naturally alleviate people's panic.
To put it bluntly, the public is just following the herd mentality.
By alleviating people's anxiety, this run crisis can be easily resolved.
After these people left with a lot of thanks, Li Qilin asked a little worriedly:
"Sir, when they encounter a crisis, do we really have to take the lead in giving generously?"
"Of course, but this is not free. If they are unable to repay their debts, we will naturally become their secured creditors. At that time, annexing them will naturally become a matter of course."
"And our limelight this time will be of great help to our bank's savings business. Where do you think those panicked depositors will eventually put their money?"