Kirilenko excitedly went to contact the Chairman of Rito Tinto Group. Although Rito Tinto Group has lots of businesses in Australia and Canada, it is still a UK company. Their headquarters is also in London, and it is not difficult to meet them.
Feng Yu rested for a while and asked Kirilenko's men to arrange a car for him to meet the Bank's CEO.
The UK's banking industry is very developed, and it is also because of London's financial industry. More than half of Europe's investment banking is conducted in London.
London is also one of the world's main private banking markets. The total value of private securities had exceeded 300 billion GBP. In 2007, it had exceeded 500 billion GBP. But now, it is less than 200 billion GBP. This is because many securities are worthless.
London has the highest number of bank branches in the world. There are more than 300 branches in the world. Even New York cannot be compared to it.
If Feng Yu wants to develop his bank, he must not miss out on New York, London, Tokyo, Hong Kong, etc. Feng Yu had acquired a lot of financial institutions in North America, but he does not have any commercial banks.
Feng Yu likes this commercial bank in London, and it will be beneficial for Minsheng Bank's expansion.
The reason why this bank suffered heavy losses in this financial crisis was that it was one of the top mortgage lenders in the UK.
Although Minsheng Bank's status in the US is lower than Lehman Brothers, it is influential in Europe. This bank's deposits are close to 30 billion GBP, and its ability to absorb deposits is outstanding.
But it is a pity that its investment foresight is not good, and it had invested in too many subordinated bonds, resulting in high losses.
But with the help of the British government, the Bank of England provided emergency liquidity support, and the British Chancellor of the Exchequer announced that he will guarantee the bank's deposits. This prevented the bank from going bankrupt.
The UK is still discussing the introduction of the latest "Bank Bankruptcy Law" to prevent this kind of situation from happening again.
The US had suffered heavy losses from the US financial crisis, but the UK also suffered heavy losses. The UK and the US have a close relationship, and many industries are learning from each other.
The UK government is the same as the US government. They had to take over some financial institutions and turn many private companies into state-owned enterprises. After the crisis is over, they will think of ways to sell them off.
The commercial bank that Feng Yu wanted to buy was currently held by the British government. The British government wanted to get rid of it as soon as possible as they were short of money.
When Ralph contacted the person in charge of this bank, they were actually very moved. This time, when the CEO heard that Feng Yu would come personally, he was even more excited.
The current market value of their bank was less than 10 billion pounds. For the world's richest man, they could definitely afford it. Also, they have a lot of high-quality assets. But they are worried that this bank has a lot of debts and non-performing assets. Will Feng Yu hesitate?
However, the government had asked them to find someone to take over the bank as soon as possible, even if they had to suffer some losses. In their hands, without funds, they could only watch as the bank continued to depreciate. Their high-quality assets continued to be lost and turned into low-quality assets.
Selling it while it still had value was the right choice. Moreover, it could allow the government to withdraw funds and help other companies out of trouble.
"Hello, Mr Feng. I am Gary Potter, the CEO of this Western Commercial Bank. I am also the person in charge of this acquisition negotiation. You can call me Potter."
Feng Yu looked at Mr. Potter in front of him. He was dressed meticulously, and even his beard was neatly trimmed. Fortunately, he was not wearing black-rimmed glasses. Otherwise, Feng Yu could not help but think of Harry.
"Potter, sit down. You should know why I am here. I will give you five minutes to convince me why I want to buy your bank."
Potter looked at Feng Yu in surprise. Isn't the person beside him an interpreter? He clearly remembered that Feng Yu is from Hua Xia, but he did not expect Feng Yu to speak English so well.
But at this time, he could not think too much. Looking at Feng Yu, if he could not give enough reasons, Feng Yu is likely to give up this acquisition.
But at the same time, as long as he can convince Feng Yu, then there is a great possibility of acquisition.
"Mr Feng, our bank still has more than 26 billion pounds in deposits. This figure is enough to prove our ability to absorb deposits and that our bank is still trusted by depositors."
"We have world-class high-end talents. In the talent selection system, we are not bound by one pattern. As long as they have the ability to create high profits for the bank, they will be entrusted with important tasks."
"We adopt a radial organizational structure, with centralization and decentralization coexisting. The bank's business can be spread all over the world through the network. We can also share information and resources, which can have a centralized scale effect."
"Our organizational structure is absolutely not bloated. Everything is considered for the customer. Under the premise of safety, we strive to meet customer requirements as quickly as possible. In the shortest time, we provide the most convenient financial services for customers, so our customer satisfaction has always been very high."
"We have an accurate strategic positioning and target market. Our goal is to serve customers. We adhere to the principle of first doing well, then making it big, which makes our management concept very advanced …"
Feng Yu looked at his watch. Five minutes were up. He directly waved his hand to interrupt Porter's words.
"Well, five minutes are up. Do you think what you said just now was enough to move me?"
Feng Yu's expression was stern, and his tone was very stiff, which made Porter very nervous. He was a little regretful. There were still many advantages that he did not mention just now. Could it be that Feng Yu was not satisfied with what he said?
"If you are not sure, then let me tell you some of my views first. You said that you have 26 billion pounds in deposits. What about the money? How much cash do you have? Most of the depositors' deposits have been turned into loan contracts and other negotiable securities. When there is a run on the bank, you can't take out the money, so you can only borrow at high interest. This is also one of the root causes of 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 this time your losses are not unrelated to this system, right? Do you think that the negotiable securities you bought can bring high profits? But what happened? "
"You said that your business can be spread all over the world, but how many branches or business outlets do you have? How many employees do you have? How many of them are new employees and how many are about to retire? You didn't tell me these. "
"Serving customers is the goal. This is very funny. The first and final goal of opening a bank is the same, and that is to make money. Making money is the core goal."
"Porter, do you accept what I said?"
Porter was stunned. His eyes were a little empty. He felt that this negotiation might have failed again. Could it be that their bank really could not sell?
…
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