I Want To Be a Rich Man on Hong Kong Island

The time came to January 26. During this period, Everbright Bank prepared in an orderly manner and did not make any publicity;

So things about China Everbright Bank gradually faded away!

At this time, only two months have passed since the implementation of the new regulations on banks in Hong Kong Island. No one would have thought that the biggest bank run in Hong Kong Island's history was coming like a strong wind.

That morning, at the gate of Mingde Bank, a small bank without a legal person, many rural uncles and grandmas began to appear.

When the staff opened the store and were about to open for business, seeing hundreds of uncles and grandmas swarming up, I immediately felt a little bit in my heart!

These people showed a sense of urgency on their faces, and it seemed that the visitors were not kind, and they definitely didn't come to make deposits, they came to withdraw cash.

"Hurry up, young boy! We're in a hurry to get money! Don't be so dazed at such a young age!" A strong uncle couldn't wait to push the crowd away, and came to the counter first, cursing and swearing, obviously It's a great character.

"Withdraw the money, I will take out all the money on it, and I will use the money in a hurry!" Uncle's face was anxious and excited, after all, he was the first to start withdrawing money, and this bankrupt bank did not There is no reason to even have this money!

"Ah, the staff also felt a little bit in their hearts, but they still did it.

At this moment, even a fool would know that there might be a bank run today;

A manager hurriedly asked someone to call the boss, but he himself shouted to the crowd: "Abbe and Aunt, don't worry, our bank has abundant cash flow; have you heard any rumors, please don't worry about it." Believe me! It’s better to keep the money in the bank, and there will be no thieves and hooligans to patronize..."

It's a pity that the red-eyed uncle and grandma ignored it at all. It took only 2 hours for the store of Mingde Bank to run out of cash and was squeezed out.

For a while, Abo and Ama quit, and began to cry, in pain;

What's more, they cried out loud in the street. The tragic level was soon seen by others, and the lack of money of Mingde Bank immediately spread in Hong Kong Island.

On the same day, Hong Kong and Kowloon rumors spread everywhere, and people panicked;

Some depositors are afraid that their deposit banks will go bankrupt and their savings will be wiped out, so they flock to major banks to withdraw money in a panic;

Squeeze into the vast ocean and the raging tide shakes the banking industry in Hong Kong and Kowloon, and small and medium-sized banks are in jeopardy.

Many depositors see a bank run, and they are afraid that the bank will run out of money, so they will naturally join in;

Like a domino effect, not to mention uncles and aunts, even some white-collar workers have also joined this squeeze.

In the afternoon of that day, Wu Guangyao urgently summoned his four-member advisory group, and Andri and Lei Hong from China Everbright Bank.

"What do you think?" Wu Guangyao spoke first.

Everyone's eyes were focused on Wu Guangyao, and they found that Wu Guangyao's face was calm at this time, and he couldn't understand the boss's inner thoughts.

Morse, the financial consultant, quickly sorted out his thoughts and said: "Boss, as far as I know, since the Chinese-funded bank run in 1961, the Chinese-owned banks in Hong Kong Island have not learned their lesson; they invested heavily In the real estate industry, they either lend money to real estate developers, or personally participate in this real estate feast. Therefore, their cash flow at this time is simply not enough to resist the occurrence of a bank run, and there may be another bank and bank bankruptcy!"

"We can take this opportunity to acquire one or two banks with stronger strength!"

When everyone heard it, they all agreed!

Andrei, chairman of China Everbright Bank, said: "With the strength of BOSS, it is unreasonable to develop the banking industry step by step; although these Chinese-funded banks are not large in scale, they are a good food for China Everbright Bank at this time. It will cause indigestion!"

Wu Guangyao pondered for a moment, and said, "We can't intervene in this matter prematurely, so let's be a bystander first. When the time is right, we will act as the savior. Wouldn't the effect be better!"

Everyone quickly understood what Wu Guangyao meant, that is, if a few small banks were not closed first, how could the bank run incident affect medium-sized banks!

To put it bluntly, the more serious this incident is, the better it will be for China Everbright Bank!

When everyone's vitality was seriously injured, China Everbright Bank happened to attack from all directions to gather depositors' deposits.

 …

The run on Mingde Bank was like the fuse, and it really set off a wave of runs on Chinese-funded banks on Hong Kong Island.

On the second day, the Hong Kong government's bank supervision commissioner inspected Mingde Bank;

It was found that Mingde Bank not only regarded the interest rate agreement of the trade association as nothing, but Mingde Bank not only had no liquidity, but also had no repayment ability.

Dude, this is a real drain on depositors!

If depositors cannot get their money, they will naturally make troubles. This trouble in Hong Kong and Kowloon is well known, and the scope of the liquidation incident will naturally increase.

On February 3, Guangdong Provincial Trust and Commercial Bank, a time-honored Chinese bank established in 1931, was overwhelmed and announced that it had sold out of cash. The Hong Kong government immediately announced the imposition of controls on the bank.

In just seven days, two banks failed;

Even Guangdong Provincial Trust Commercial Bank, which has 26 branches, went bankrupt, which undoubtedly exacerbated the run-off;

Hua-funded banks are already facing the biggest credibility crisis in history.

However, HSBC and Standard Chartered Bank are calm and sit firmly on the Diaoyutai.

Two Chinese-funded banks closed down one after another, and the run on banks spread. Only then did He Shanheng of Hang Seng Bank realize the seriousness of the situation.

At first, He Shanheng felt that Hang Seng Bank had a very good reputation. Although there were many loans from outsiders, they were all reputable customers and could be recovered in time;

Unexpectedly, the fire actually caught up with Hang Seng Bank!

On February 4, more and more people came to the Hang Seng head office and branches to withdraw money. The leaders of Hang Seng mobilized urgently to raise cash to pay for the withdrawal, and at the same time sent specialists to persuade customers not to withdraw money temporarily.

He Shanheng and the veterans of Hang Seng took their staff to each branch to explain, guarantee and advise depositors, but they could not eliminate the fear of depositors.

Perhaps, it is because the depositors still remember that Hang Seng was born out of a bank;

Perhaps, it is depositors' distrust of the entire Chinese bank;

In short, the number of depositors who came to run the bank continued unabated, and the total deposits of Hang Seng reached 720 million Hong Kong dollars. The chaotic situation was even more terrifying than the run on Liao Chong Hing Bank back then.

.....

On February 5, at 8 o'clock in the evening, He Shanheng came to Wu Guangyao for help!

Wu Guangyao thought long ago that He Shanheng would definitely ask him for help, and he had a plan in place.

"Brother He, I am a shareholder of Hang Seng Bank. Although I am not in charge of Hang Seng Bank's affairs, I am also obliged to help Hang Seng Bank tide over the difficulties; how about this, I will send 30 million Hong Kong dollars in cash to Hang Seng Bank tomorrow morning, I hope Hang Seng It's no wonder the bank can survive!"

The cash of 30 million Hong Kong dollars can definitely show Wu Guangyao's sincerity; but Wu Guangyao estimates that Hang Seng Bank will never be saved!

The reason why he didn't immediately take advantage of others was because Wu Guangyao didn't want to have a bad impression with He Shanheng and others!

After all, I am not HSBC or Standard Chartered Bank, so I can be ruthless.

He Shanheng was taken aback for a moment, he didn't expect Wu Guangyao to be so eloquent, he must know that he asked for help from some well-connected wealthy businessmen and bankers, but no one offered a helping hand.

And the relationship between himself and Wu Guangyao is not very close, it can only be said that they are acquaintances.

"Thank you so much! Guangyao, do you think this bank run incident will spread and intensify?" He Shanheng couldn't help asking Wu Guangyao. Although he was a banker, the people in front of him had a very unique vision.

"I don't know. I've just entered the industry. I didn't expect to encounter this kind of thing. I figured out how to do it!" Wu Guangyao said.