Kirilenko excitedly went to contact the chairman of Lituo Group. Although Lituo Group has a lot of business in Australia and Canada, it is a British company, so its headquarters is also in London. It is not special to meet him. Disaster.
Feng Yu rested for a while and asked Kirilenko's people to arrange a car to meet the bank's CEO.
The British banking industry is very developed, which also benefits from the prosperity of London's financial industry. More than half of Europe's investment banking business is conducted in London.
London is also one of the world's major private banking markets. The total value of private securities has long exceeded 300 billion pounds. In 2007, it was once said to have exceeded 500 billion pounds, but now it is less than 200 billion pounds. sterling because many securities are worthless.
London is also the city with the most bank branches in the world, with more than 300, ranking first in the world and even less than New York.
If you want banks to develop well, you must not miss major financial markets such as New York, London, Tokyo, and Hong Kong. Feng Yu has acquired many financial institutions in North America, but there are no commercial banks.
This commercial bank in London is one that Feng Yu likes very much, and it will be of great benefit to the business expansion of Minsheng Bank.
This bank suffered heavy losses in the financial crisis because they are also one of the top mortgage lenders in the UK.
Although its status in the United States is lower than that of Lehman Brothers Bank, its influence in Europe is not small. This bank's total deposit-absorbing capacity is close to 30 billion pounds. When it comes to its ability to absorb deposits, it is absolutely excellent.
Unfortunately, my investment vision was a bit poor and I invested in too many subordinated bonds, resulting in huge losses.
However, with the help of the British government, the Bank of England provided emergency liquidity support, and the British Minister of Finance also announced that it would provide a guarantee for the bank's deposits, which prevented the bank from being overwhelmed by the public's run. bankrupted.
To this end, the UK is still discussing the introduction of the latest "Bank Bankruptcy Law" to prevent this situation from happening again, and the government can intervene in time.
In the financial crisis in the United States, the losses in the United States are naturally very large, but the losses in the United Kingdom are also not small. Who makes the United Kingdom and the United States have such a close relationship that many industries can learn from each other
The British government, like the American side, had to take over some financial institutions and temporarily turn many private enterprises into state-owned enterprises. They would wait until the crisis was over and then find ways to sell them off.
The commercial bank that Feng Yu wants to acquire currently also has many preferred shares held by the British government. The British government really wants to get rid of it quickly, and they are also short of money.
When Ralph contacted the person in charge of the bank, they were actually very excited. This time they heard that Feng Yu came in person, and the bank's CEO was even more excited.
The market value of their bank at this time was less than 10 billion pounds, which was definitely affordable for the world's richest man. And they also own many high-quality assets, but the worry is that this bank is burdened with many debts and non-performing assets, and whether Feng Yu will hesitate.
However, the government has asked them to find someone to take over the bank as soon as possible, even if they lose some money. In their hands, without the funds to relieve the difficulties, they can only watch the bank continue to depreciate, and high-quality assets continue to be lost and turned into inferior assets.
Selling while there is still value is the most correct choice, not to mention that it can also allow the government to withdraw funds and help other companies get out of trouble.
"Hello, Mr. Feng, I am Gary Porter, the CEO of the West Bank of England, and the person in charge designated by the shareholders for this acquisition negotiation. You can call me Porter."
Feng Yu looked at Mr. Potter in front of him. He was dressed meticulously, even his beard was neatly groomed. Fortunately, he didn't wear black-rimmed glasses, otherwise Feng Yu couldn't help but think of classmate Harry.
"Potter, sit down. You should be clear about my purpose here. I'll give you five minutes to convince me why I want to acquire your bank."
Porter looked at Feng Yu with some surprise. Isn't the person next to him a translator? He clearly remembered that Feng Yu was from China, but he didn't expect that he could speak English so well.
But he can't think too much at this time. Depending on Feng Yu's intentions, if he can't give enough reasons, Feng Yu is likely to give up the acquisition.
But at the same time, he also said that as long as he convinced Feng Yu, there would be a great possibility of acquisition.
"Mr. Feng, our bank still has more than 26 billion pounds of deposits. This number is enough to prove our ability to attract deposits, and it also proves that our bank is still trusted by depositors."
"We have world-class high-end talents, and our talent selection system is eclectic. Anyone who has the ability to create high profits for the bank will be entrusted with important tasks."
"We adopt a radial organizational structure, with both centralization and decentralization. The bank's business can be spread all over the world through the Internet, and through information and resource sharing, it can have a centralized scale effect."
“Our organizational structure is definitely not bloated, and everything is considered for customers. Under the premise of safety, we strive to meet customer requirements as quickly as possible and provide customers with the most convenient financial services in the shortest time. Therefore, our customer satisfaction It’s been very high.”
"We have accurate strategic positioning and target markets, aim to serve customers, and adhere to the principle of doing excellence first and then becoming bigger. This makes us very advanced in the concept of business management... "
Feng Yu looked at his watch. Five minutes were up, and he waved his hand to interrupt Porter's words.
"Okay, five minutes are up. Do you think what you just said can impress me?"
Feng Yu's expression was stern and his tone was harsh, which made Porter feel very uneasy. He felt a little regretful in his heart. There were still many advantages that he had not mentioned just now. Could it be that Feng Yu was not satisfied with what he said
"You are not sure, then let me tell you some of my opinions. You said you have 26 billion pounds in savings, but what about the money? How much cash reserves do you have? Most of the depositors' deposits have turned you into There are other securities in the loan contract, right? If you encounter a run, you can't get the money out and you can only borrow money at high interest rates. This is one of the fundamental reasons for your losses."
"You said that as long as you can create high profits for the bank, you will be entrusted with important tasks. I think your losses this time have something to do with this system, right? Do you think that the securities you purchased can bring High profits? But what’s the result?”
"You said that your business can be spread all over the world, but how many branches or outlets do you have in total? How many employees are there? How many of them are new employees and how many are about to retire? You didn't say anything about this."
"It's funny to have the goal of serving customers. The first and ultimate goal of opening a bank is the same, which is to make money. Making money is the core goal."
"Potter, do you accept what you and I have said?"
Porter was stunned and his eyes were a little hollow. He felt that this negotiation might have failed again. Could it be that their bank really can’t sell it
…