Si Wanru came up with her two sons, one older and one younger, with a smile. The eldest son, Guabao, was four years old. He ran over first with his short legs and threw himself into his father's arms.
The grandparents nicknamed their eldest grandson "Guobao". It was so annoying that Wang Yaocheng couldn't say it out loud, so he simply called his eldest son "Little Naughty Naughty", and the one-year-old second son was named "Hanhan".
Just because of the name Hanhan, Si Wanru complained a lot.
Wang Yaocheng picked up his eldest son Guabao with one hand. Hanhan who followed behind him grinned and giggled. Wang Yaocheng freed up his other hand to pick up the little one as well. "Tell daddy, are you good and naughty at home?"
Trick or treat?”
"Dad, I broke my bowl when I was eating this morning." The little naughty man spoke smoothly and started to complain in a crisp childish voice.
"Oh... don't cut your hand."
Wang Yaocheng looked at Hanhan in surprise. This chubby little guy was not honest in his arms. He was looking up and down happily!
These little short legs are so strong that nothing will happen to them.
"Hey, you two little naughty guys didn't stop for a minute. You didn't even let your father take a break when he came back. So you got stuck on him and held each other in your arms." Si Wanru said with some distress.
"No, I want daddy to hug me." The little naughty boy hugged his father's neck tightly with his little hands, and his little face was close to his.
"I want it too."
Hanhan stretched out his short little arm and grabbed Wang Yaocheng's face with great effort, leaving a clear black mark.
The fat lady who followed Si Wanru out had been promoted to a fat aunt. Seeing this, she took out a wet towel from her pocket and stepped forward to wipe the Hanhan's little hands clean.
While wiping it, the fat aunt couldn't help but laugh out loud and said, "Ouch! What did I say it was? This kid grabbed a chocolate bean in his hand and it all melted. Now, it's all smeared on his father's face."
Hanhan smiled very happily and said in a milky voice, "Daddy, eat some sweets."
Wang Yaocheng couldn't help but smile happily; "I'm so grateful to you, young master, this is all on my face."
The family walked back talking and laughing, leaving only the lingering laughter echoing in the empty Genting Platform.
The mountain breeze is refreshing and refreshing, and there are strange peaks and beautiful scenery everywhere, and the clouds and mists are shrouded in it. It feels like a paradise for gods and goddesses.
afternoon
third floor
Small conference room
Du Bo, Vice President of HSBC, is reporting work;
"...
Today, the integration work of all branch banks across the United States has come to an end and has entered a healthy operating track.
HSBC has a reasonable layout of branch banking outlets in North America, East and Southeast Asia, West Asia, Britain and France and other European countries, and is developing according to the standards of modern top banks.
Strictly control credit, optimize customer structure, and comprehensively reduce non-performing debts. Various indicators rank among the top among large multinational banks.
In the first fiscal quarter of 2001, HSBC's profit reached US$6.77 billion, and its investment return rate ranked fourth among banks in the world, second only to UBS Group.
Looking to the future
…”
It has been more than an hour since Du Bo gave the work report, and his mouth was dry.
As the chairman of the board of directors of HSBC, Wang Yaocheng is of course very concerned about the core bank of the consortium. As soon as he came back today, he summoned the senior management of HSBC to listen to the report and was quite satisfied with the current progress of the work.
Mr. Mo Yuxuan, President of HSBC, reported on the specific situation of contact with the Bank of Westminster in the UK. This is the merger and acquisition case that is closest to being concluded. Both parties have been negotiating for a long time and have a strong intention to cooperate.
The Bank of Westminster was founded in 1836 and merged with the County Bank of London in 1909. Since then, it has merged with Malster, Nottingham, Stillwell and other banks. It has a history of 165 years and is an old British bank with a long history.
.
Westminster Bank directly or indirectly controls more than 50 subsidiaries, covering more than 40 countries and regions in North America, East Asia, the Middle East, Africa, South America, Europe, and Oceania, and its business scope is very wide.
According to information published by the Royal Bankers Association;
late 2000
Westminster Bank has a total of 1,920 branches, sub-branches and overseas business departments, with a total of deposits of 113.8 billion pounds, more than 7.6 million customers, assets of 100 million pounds, interest income of 3.714 billion pounds, non-interest income of 3.497 billion pounds, and 69,000 employees worldwide.
, operating costs are 4.644 billion pounds.
In terms of scale, it is about 1/5 of the current size of HSBC, and its assets are highly complementary.
Westminster Bank can make up for HSBC's presence in Africa (mainly southern Africa and northern Africa), Oceania (Australia and New Zealand are the bank's traditional business areas, with more than 130 years of experience, branches and business outlets all over the place.) and South America (mainly Brazil)
, Argentina and Paraguay) layout weaknesses have greatly enhanced the global layout of multinational banks.
Likewise, there is also a high degree of overlap in banking services.
For example, in traditional white middle-class areas such as the British Isles, Boston, New York, Western California, Massachusetts, and Texas, branch banks and business outlets are highly overlapping.
As for this part of the assets, after careful sorting by the Asset Management Department of HSBC, approximately US$3.5 billion worth of assets can be sold.
While exchanging part of the cash flow, it also laid off more than 17,000 employees, reduced some internal losses, reduced functional overlap, and improved the bank's administrative efficiency.
The full name of Westminster Bank is National Bank of Westminster. It is the second largest bank among the four major commercial banks in the UK, a founding member of the London Clearing House, and ranks ninth among the top ten commercial banks in the world.
NatWest Building, located at 41 Losbury Street, is the tallest building in London, a Grade 5A building, equipped with air-conditioning, ventilation, fire prevention, communication, office automation and security monitoring facilities. The banking industry in the British Isles is in the most advanced position.
Westminster Bank closely followed the trend of network information office and developed credit card electronic money and remote image and text transaction services. It realized computerization of internal control and networked information exchange.
These measures are supposed to reduce transaction costs, management costs and labor costs. In fact, the investment is huge and has not achieved the desired results.
In 2000, Westminster Bank set aside bad debt provisions of 1.17 billion pounds, and its net profit minus expenses was 1.397 billion pounds.
In other words, the return on assets is much lower than that of its peers, only a little over 10%. This figure is quite pitiful, only half of that of its American peers, which is still weak.
In 1997, Westminster Bank in the UK suffered another loss of 50 million pounds due to improper financial derivatives operations.
Bank president Irving was forced to resign. The manager of the European options trading department, the director of Asian bond trading, the treasurer and the head of the risk control office were successively held accountable, and the bank was embroiled in troublesome trading litigation.
Due to huge losses, the board of directors of Westminster Bank in the United Kingdom considered the overall sale intention, attracting many interested and well-known large banks to approach.
After all, the losses on financial derivatives were simply due to improper risk management, and Westminster's overall assets were quite good.
In mid-1998, the British bank Barclays revealed its overall M&A intention and offered a price of 12.8 billion pounds.
Barclays preliminary estimates;
By sorting out business outlets and strengthening human resource management, the merger can reduce labor costs by 30% and comprehensive costs by 17%, forming the largest banking group in the UK.
pity
The senior management of both parties had great differences in opinions on price, and the merger ultimately failed.
After that, the board of directors of Westminster Bank in the United Kingdom hired Lazard Brothers as its agent to search for powerful successors around the world. It successively had frequent contacts with Prudential Company (a British insurance giant), the National Bank of Abu Dhabi, and the Kentucky Consortium in the United States.
In 1999, the British Prudential Company entered the final negotiation process, and the two parties agreed on a price of 14.5 billion pounds. However, the two parties broke up because they could not agree on the details, and the overall sale came to an end.
"Haha, now the British are very concerned about the uncontrollable risks of banks. In 1995, Barings Bank, the oldest and most stable bank in London, suffered a huge loss of 860 million pounds due to the willful operation of a trader.
Loss, collapse."
Wang Yaocheng tapped the table with his slender fingers, his voice calm and firm; "The same problem has occurred again at Westminster Bank in the UK. Why does it make mistakes again and again?
The major British joint-stock banks, known for their conservative and prudent operations, have among the best risk control capabilities in the world. Why can't they stop this from happening?
A hundred secrets and a sparseness!
According to an old Chinese saying, tigers also take a nap.
Can be biased
Financial derivatives trading is a very good supplement to the bank's business. Westminster Bank's non-interest income is 3.497 billion pounds. Excluding bond trading, listed company counseling business and VIP financial services, financial derivatives trading accounts for one-third, and can bring in more than 1/3 of the business every year.
Net income of £1bn.
Well, without it, Westminster Bank may fall into an embarrassing loss, and this is probably the real reason."
With a casual smile, Wang Yaocheng told the senior executives of HSBC: "The bank should return to its original business. Focusing on the development of financial derivatives has gone too far and is not doing its business.
Westminster Bank has deposits of 113.8 billion pounds. What is the concept?
hehe!
Mainland enterprises are hungry for funds, Huaxia’s foreign exchange reserves are not large, and Westminster Bank is completely blank in the mainland market. This does not mean that HSBC cannot operate.
If it works well, the interest rate difference can reach billions of pounds every year, which is pure profit."
As soon as these words came out, a window suddenly opened for everyone.
Thinking of HSBC's high-denomination US dollar and Hong Kong dollar deposits, the deposit interest rates are generally below 2%. The interest rates of commercial banks in the mainland are currently as high as 8% to 10% or more. There is simply too much room for operation.
The chairman is right;
Westminster Bank cannot operate, HSBC can!
Among the top five multinational banks in the world, HSBC has the most extensive and extensive mainland business, offering everything from credit cards to export credits.
Especially in coastal provinces such as Guangdong, Mingzhu, Jiangsu, Zhejiang and Dongshan, as well as in mainland cities at the sub-provincial level or above, RMB loan business for enterprises has been widely carried out, as well as trust certificates, acceptance remittances, international bank drafts and other businesses for export enterprises.
.
This is HSBC's unique capital and market advantage. If it is firmly controlled, it can help HSBC develop into the world's largest comprehensive multinational bank and provide a full range of financial services.
When I thought of this, the senior management of HSBC were flooded with ideas, and there was no need for Wang Yaocheng to give any more advice.
Wang Yaocheng was very satisfied after seeing it. As a superior person, he could just outline and point out the direction of development. The specific business development would naturally be done by professionals.
Otherwise, are all the more than 200,000 employees of HSBC Bank doing nothing?