Rebirth of the Age of Wealth

Chapter 173 Hong Kong Island Banking Industry

Hong Kong Island is the world's financial center, so there are naturally many banks. For many years ten years ago, the conditions for opening a bank on Hong Kong Island were extremely simple. This was also a prerequisite for Hong Kong Island to become a financial center.

But starting in 1982, Hong Kong Island's financial system implemented a three-tier system, with licensed banks, licensed deposit-taking companies and registered deposit-taking companies, making it difficult for many unlicensed banks to survive and declare bankruptcy!

Due to management problems, large-scale bankruptcies of licensed banks are fatal. In just ten years, more than a dozen banks declared bankruptcy and were taken over by the government.

After the takeover, it was discovered that there were a large number of bad debts, illegal lending practices, and even bank shareholders stealing and misappropriating deposits privately, leading to a wave of runs. In short, management problems seemed to be the main factor in the collapse.

Although the banks taken over by the Hong Kong government have been acquired and merged by major banks, the supervision of bank licenses is even stricter, especially the approval of licensed banks.

With the collapse and mergers and acquisitions of large banks, Hong Kong Island's banking market has been divided up by some large banks, leaving little room for small banks to survive.

Li Shihui said: "In the past few years, due to poor bank management, many banks encountered crises and were unable to support themselves. Some banks with good qualifications were acquired by big banks. I also planned many such cases when I was at Morgan!"

Li Shihui was very proud that he handled many mergers and acquisitions of major banks at that time, and both HSBC and Standard Chartered were his clients at that time.

"However, due to historical issues, many small banks and small money houses still retain their bank licenses, have few branches, or simply do not have branch business departments, let alone market share. Naturally, big banks are unwilling to take over.

, many choose to go bankrupt!”

"There are also some bank holders who value the scarcity of licensed banks and have been holding on to them just to sell them at a good price!" Li Shihui has done detailed research on Hong Kong Island banks.

Li Weidong asked: "There is another thing, are there any restrictions on acquiring them?"

Li Shihui replied: "There are no restrictions, but due to strict examination and approval, the value of financial licenses has also increased in the past two years. Now a licensed bank qualification can cost 40 to 50 million!"

Li Weidong understood that this was the same as the taxi license plates in mainland China. He didn't know why. The number of taxis was limited, and each set of license plates was very valuable.

If you have connections, you can get dozens of license plates and earn tens of thousands of dollars a day without having to do anything else. Li Weidong remembers talking to the taxi driver at the time, saying that he only paid one or two hundred a day. How fat is this piece of meat!

Opening a bank is not that simple. A license costs 40 to 50 million, and if the registered capital is not several hundred million, you would be embarrassed to say that you open a bank.

"Is there any suitable one?" Li Weidong became interested. He has always believed that if you can acquire something, never do it yourself. Acquisition is the fastest way. He is rich and willful.

Li Shihui said with some embarrassment: "I know a person whose family opened a bank a long time ago, but when he came to him, he was not interested in it at all, so he declined."

"What's the situation?" Li Weidong was curious, there are still people in this bank who are not willing to work. If he doesn't ask anyone who has money, he will ask if your family owns a bank. It sounds so open.

Li Shihui said honestly: "Although my college classmate studied finance like me, he is really not interested in finance. He only studies to satisfy his father's wishes!"

"His father passed away a few years ago, and the bank's business slowly stagnated. Instead, it escaped the real estate crisis a few years ago and allowed them to continue operating!"

"As far as I know, the bank only has one business department, and it is its own property, so there is no need to rent a house!"

Li Weidong said: "Well, you contact him. If he plans to sell, I will send someone to contact him!"

Looking at this subordinate who was less than forty years old but had thin hair, Li Weidong still did not choose to completely believe him in the end.

Li Shihui said: "Okay, Mr. Li, I will contact you shortly!"

"Mr. Li, are you so optimistic about the banking industry? Do you have any plans?" Zou Yi couldn't help but ask when he saw that Li Weidong was so interested in banks.

And based on the fact that she had never done anything useless in the short period of time she had been in contact with Li Weidong, she was full of curiosity about Li Weidong's passion for banking.

"You want to get in on the action too?" Li Weidong joked.

Zou Yi has a small fortune now. The lawsuit with the Zhuo family has ended. Naturally, she has obtained the property that belongs to her parents. The property of over 10 million yuan is enough for her to stop working for money.

Li Weidong had already made plans to resign, but unexpectedly, Zou Yi chose to continue working at Xingying Capital.

There is pressure for a person with a net worth of tens of millions to work for him, but when he thinks that there will be more such people under him in the future, he is indifferent and follows him to have meat to eat!

Zou Yi said with a smile: "Mr. Li is joking, I still have to keep my daughter as a dowry with this little money!"

She knows that Li Weidong's business makes money, but not everyone is qualified to participate. With Li Weidong's temper, this bank is definitely not a small business, and her little money will definitely not work.

Moreover, she had already made plans for the property she had acquired. Since she came here because of the Zhuo family, she naturally had to return it.

When this is returned, of course it will not be given to the Zhuo family, but to his own daughter, whose surname is also Zhuo!

Li Weidong heard the awe-inspiring report and said: "Then I'll give you a toast!"

Li Weidong looks down on those who are not greedy for money. It is too hypocritical, but those who can avoid taking money that they should not take are worthy of a toast from Li Weidong.

Zou Yi was confused, but he was used to Li Weidong's abnormal brain circuit.

When a few people are chatting, you can't just talk about work when you are with the leader. That would be so uncomfortable. Sometimes it is good to talk about entertainment gossip. The key is that Li Weidong also wants to hear it.

Financial people are naturally interested in things in the financial world. The most famous financial star in Hong Kong is Liang Jinsong. Last year, he became the Hong Kong president of Citibank, an unprecedented figure.

Several people were extremely envious, but Li Weidong got to know Governor Liang a little later. Although the head of the Financial Secretary of Hong Kong Island has a different political system, he can hold such a high position and is naturally very capable.

But it is impossible to say how much Li Weidong admires President Liang. Although others cannot comment on his personal feelings, abandoning his first wife is definitely a problem. The key is because he was found to be looking for a younger one.

Li Weidong said: "You want to conquer my army, do you think my salary is not high enough? As long as you work hard, I can't guarantee your status, but your salary will definitely reach this level!"

The salary offered by Li Weidong is basically among the top in the industry. With dividends and salary, Zou Yi can get several million Hong Kong dollars.

Xu Yandeng used to be just an agent and now he can earn millions. Among the known professional managers, he is definitely at the forefront.

But among the professional managers in the financial industry on Hong Kong Island, there is an alternative. Liang Jinsong, president of Citibank Hong Kong Island, has more than two million US dollars in salary and dividends, and is the only one who gets a share of the scorpion shit.

A few people naturally didn't believe it, but in order to match Li Weidong's joke, everyone naturally tried their best to flatter him. Li Weidong didn't care. Who would believe it if this kind of thing didn't happen.

I'm afraid they never dreamed that the current humble general manager of a company invested by Li Weidong in the Mainland would have an annual salary plus dividends that would be more than this in the future.

(End of chapter)