Chapter 734 Targeting the Third Largest Bank in Hong Kong!

When the Empire Group officially announced the acquisition of Hang Lung Bank, Yang Ming was already resting.

However, Yang Ming's acquisition of Hang Lung Bank was too fast.

So fast that many people could not react.

That night, many people in Hong Kong learned that the Empire Group announced the official acquisition of Hang Lung Bank, which still caused great shock in Hong Kong.

Rest for a night.

Early the next morning.

Yang Ming got up and washed up.

He went to the swimming pool to swim, changed his clothes, and had breakfast with his parents.

Yang Jirong and his wife just learned from the newspaper that their son had acquired Hang Lung Bank.

"Peter, I didn't expect that you acquired Hang Lung Bank in a blink of an eye."

Now the headlines of major newspapers in Hong Kong are all about the news that the Empire Group officially acquired Hang Lung Bank. In addition to spending 100 million Hong Kong dollars to acquire it, it also injected 500 million Hong Kong dollars into Hang Lung Bank.

In other words, it is equivalent to spending 600 million Hong Kong dollars, but the 500 million Hong Kong dollars, in the eyes of outsiders, is still unknown whether it can fill the hole of Hang Lung Bank.

The acquisition of Hang Lung Bank by the Empire Group has brought great confidence to the depositors of Hang Lung Bank.

After all, Empire Group is too powerful.

It could spend more than 10 billion to swallow up Jardine Matheson Land. Now that it has acquired Hang Lung Bank, Hang Lung Bank's strength must be very different.

Yang Ming finished breakfast.

He took a car back to Empire Group.

Back to the office of the chairman of Empire Group.

Lin Xiuzhi also knew that the boss had acquired Hang Lung Bank.

While Lin Xiuzhi was making coffee for the boss, Yang Ming asked, "Are your parents better?"

"They heard that they could get their principal back, and they felt much better."

Yang Ming had asked Mai Lisi to notify Yang Shucheng to acquire Xie Liyuan Gold Shop.

If nothing unexpected happened, the acquisition of Xie Liyuan Gold Shop was also a matter of the past few days.

For the thousands of investors in Xie Liyuan Gold Shop, they can get their principal back, but they can't get the interest back.

Yang Ming hopes that after Yang Shucheng gets Xie Liyuan Gold Shop, he can turn this century-old store into a gold and silver jewelry store like Zheng Jia Zhou Dafu.

Even make it the largest jewelry store in Hong Kong, or even in Asia.

In addition.

Yang Ming also asked Mai Lisi to send someone to contact the shareholders of Daoheng Bank.

Why did Yang Ming pay attention to this bank?

Daoheng Bank was established in 1921 and is not as large as Hang Lung Bank. Historically, in 1982, it was acquired by Guoco Group, a Malaysian tycoon Guo Lingcan.

Now it just happened that the Empire Group acquired it.

Yang Ming believes that under the current circumstances, it is not a problem to acquire this Chinese bank.

In addition to this Daoheng Bank.

Yang Ming focused his attention on the third largest bank in Hong Kong.

Overseas Trust Bank.

Overseas Trust Bank was founded in 1955. Its founder Zhang Mingtian, whose ancestral home is Tongan in southern Fujian, is a wealthy businessman in Malaysia.

Among them, in October 1972, Overseas Trust Bank was listed in Hong Kong. In addition to Zhang Mingtian, the major shareholder, there is also Zhuang Qingquan, the major shareholder of Hang Lung Bank.

It can be said that Zhuang Qingquan was very unlucky in history. Two large Chinese banks were also taken over by the Governor's Office because of bankruptcy.

Zhang Mingtian was framed by his friend Ye Zhuangling and fell into a "check wheel", which caused the bank to lose up to HK$500 million.

Ye Zhuangling founded the Dominican Finance Company to provide immigration services for Hong Kong people.

Starting from September 1981, Ye Zhuangling repeatedly discounted uncashed checks to Overseas Trust. Due to the time difference caused by the transfer of checks, it was able to deposit the proceeds from the second check discount into the account, allowing the first check to be cashed.

Ye Zhuangling also used these funds to engage in speculative activities during the time difference.

However, due to Ye Zhuangling's failed speculation, he suffered losses and needed more funds to make up for the deficit.

So the "check wheel" rolled bigger and bigger, so that when it collapsed in March 1982, the total amount of checks that Overseas Trust Bank could cash was as high as 66.8 million US dollars.

Zhang Mingtian, as the soul of Overseas Trust Bank, suddenly passed away in February 1982. I wonder if it was a coincidence?

In March 1982, Haituo Bank knew that Ye Zhuangling could not repay the debt, but fearing that it would attract the attention of auditors and the Governor's Office, the bank's chairman Huang Changzan and Ye Zhuangling falsified accounts to cover up the bank's losses.

Historically, this matter has been covered up for more than three years.

Since 1982, companies closely related to Overseas Trust Bank, such as Dali Financial, Hang Lung Bank and Jia Nian Real Estate, have gone bankrupt or been taken over one after another. The difficulties of Haituo Bank quickly became apparent and it was forced to sell assets on a large scale.

In November 1984, Haituo sold the Chinese Bank, which it had acquired for only two years, and planned to sell the Industrial and Commercial Bank of Hong Kong again.

On June 6, 1985, the Governor's Office suddenly announced that Overseas Trust Bank would be closed for two days due to "inability to repay debts".

Afterwards, the Governor's Office announced the takeover of Haituo Bank.

The check wheel incident was thus exposed.

Due to changes in interest and exchange rates, the bad debts caused by the check wheel have reached US$90 million (approximately HK$700 million).

After the Governor's Office took over Haituo, it used a total of 4 billion yuan in foreign exchange funds to keep it running.

Haituo found a total loss of 3.1 billion yuan. It seems that the losses of Haituo Bank are not limited to the check round incident.

After 8 years of hard work, the Governor's Office sold Haituo Bank to Guoco Group for 4.457 billion yuan.

The Hong Kong Industrial and Commercial Bank, which is affiliated with Haituo, was also taken over by the government along with Haituo.

In August 1987, Dah Sing Bank acquired ICBC for HK$530 million and changed its name to Dah Sing Financial Group, replacing ICBC's listing status.

That is to say, compared with Hang Lung Bank, Overseas Trust Bank is larger in scale.

Historically, the Governor's Office had to invest more than HK$4 billion to restore Overseas Trust Bank. As the third largest local bank in Hong Kong, Yang Ming has long been interested in it.

At this time, the outside world did not know that this bank had so many problems.

The biggest problem is of course the check round incident.

There are also losses in real estate investment, etc.

Yang Ming stood in front of the window and looked outside.

In addition to swallowing Hang Lung Bank and Dao Heng Bank, the most important thing is the Overseas Trust Bank.

In history, in 1982, Guoco Group acquired Dao Heng Bank in Hong Kong, and Dao Heng Bank was listed in Hong Kong in 1983.

In 1989, Guoco Group acquired Hang Lung Bank and merged it into Dao Heng Bank.

In 1993, Guoco Group acquired Overseas Trust Bank and merged it into Dao Heng Bank.

In 2001, Singapore Development Bank acquired Dao Heng Bank for HK$43.2 billion and privatized Dao Heng.

In 2003, DBS Bank merged Dao Heng Bank, Overseas Trust Bank and Guang An Bank acquired in 1998 into DBS Bank (Hong Kong).

DBS Bank was originally named Singapore Development Bank and is the largest commercial bank in Singapore.

It is said that in order to avoid arousing the resentment of some people, mainly mainland residents and Malaysians, it was renamed DBS Bank.

The largest shareholder of DBS Bank is Temasek Holdings.

Now, after Yang Ming acquires Hang Lung Bank, Dao Heng Bank, and even Overseas Trust Bank, I am afraid that the Singapore Development Bank in history will still be the same size, and whether it can still become the largest commercial bank in Hong Kong, it is probably impossible.

Yang Ming sat down in front of the boss chair.

Lin Xiuzhi brought the coffee to the boss, and the look in her eyes when she looked at the boss was naturally different.

Chapter 2!

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