Through the wealth life

Chapter 760 Xia Fengxing

Chapter 760 Xia Fengxing

For the surging foreign exchange, Tianyu Bank never refuses, and they have enough foreign exchange to deal with the changers.

At the business office in Central, there is even a long queue here. Most of the financial investment institutions in Xiangjiang are headquartered in Central, so they naturally give priority to coming here to handle business.

Xia Fengxing, vice president of Tianyu Financial Group and chairman of Tianyu Bank, came to the Central store in person to learn about the situation here.

After seeing the current situation, Xia Fengxing ordered the manager of the Central store to immediately arrange more windows mainly for foreign exchange to reduce the pressure on the current window.

At the same time, arrange security personnel to maintain order and ensure the safety of customers. Today will be the busiest day for business. After today, the pressure on Tianyu Bank will be reduced.

The more customers who come now, the better, so that the bank will make more profits. Once the government introduces relevant policies and the Hong Kong dollar exchange rate rises, they can get benefits from the price difference. At the same time, their banks also charge fees for this exchange.

Xia Fengxing is very clear that the current exchange rate cannot be maintained for a few days, so he hopes to exchange as much as possible. Every time more exchanges are made, Tianyu Bank will be able to earn a little more.

To know their current exchange, the profit after the exchange rate rebounds needs to be given to the major groups first.

Now it is equivalent to that the major groups have now converted US dollars into Hong Kong dollars at the current exchange rate. If their banks want to make more profits, they must find a way to do as much exchange business as possible, otherwise they can only earn some handling fees. .

Although Xia Fengxing very much hoped that the foreign exchange of the major groups would remain unchanged, and wait for the government's policy to come out, their banks would be able to make more profits from it.

It's a pity that none of the presidents and financial directors of these groups felt that they belonged to the Li's consortium and gave up their interests in this area, allowing Tianyu Bank to increase its performance in vain.

After Li Guangyu announced the adjournment of the meeting, the financial directors of the major groups all approached Zhou Xiaoning and asked Tianyu Bank to exchange all the foreign exchange in their group accounts into US dollars.

Zhou Xiaoning had no way to refuse the demands of these financial directors. Their bank could only agree to this matter. The demands of these group financial directors could not be more normal. Even if this matter came to Li Guangyu, their bank would have to exchange money for the major groups. .

You must know that their bank used the foreign exchange in these group accounts in the early stage to ensure that several major banks can cope with the foreign exchange crisis. During this period, Tianyu Bank will face a problem of exchange rate losses. This time, the loan of 100 billion US dollars is in place. If If there is too little business, in this operation, their Tianyu Bank's final income may not be as good as these groups.

In particular, Wheelock and Hengyu Supermarket Group, the two groups were converted into US dollars at an exchange rate of 5.2, and now they are converted back to Hong Kong dollars at an exchange rate of 8.5. The difference in the middle exchange rate has reached 3.3.

At first it was 104 billion Hong Kong dollars, but now it has become 170 billion Hong Kong dollars. For these two conversions, their banks will have more than 1.3 million Hong Kong dollars in handling fees.

Each of these two groups will have a profit of more than 60 billion Hong Kong dollars, which has far exceeded the market value of most listed groups in Hong Kong.

Of course, this is calculated in Hong Kong dollars.If calculated in US dollars, at the current exchange rate, these two groups are losing money, and the loss is the handling fee charged by their banks.

Their capital was equivalent to 20 billion U.S. dollars at the beginning, but now after two conversions, it is less than 20 billion U.S. dollars.

However, Xia Fengxing knows that once the government's policy of stabilizing the exchange rate is introduced, these groups will reap a lot even if they settle in US dollars, which will greatly increase their profits this year.

Especially the Wheelock Group, they mainly invested in Xiangjiang this year, and the funds were used in Xiangjiang. The fall of the Hong Kong dollar exchange rate did not affect them too much.

The exchange rate of the Hong Kong dollar is falling these days, and the property market price has not only risen without the fall of the Hong Kong dollar, but has entered a new round of sharp decline. Wheelock Group can acquire more properties with this fund.

The same is true for Hengyu Supermarket Group. In Xiangjiang, they rent both Hengyu Supermarket and 7-11 convenience stores. This time they will also repurchase these stores. Help their group win the properties of all the stores in Xiangjiang, even if the losses from this material run are filled up, they can still make a profit.

However, Xia Fengxing wasn't depressed either. They had reaped a lot from handling fees during this time. The major groups under the Li's Consortium alone had created nearly [-] million Hong Kong dollars in revenue for them.

This is because they belong to the Li family consortium, and these groups charge a 0.5% handling fee, and those who exchange outside charge a handling fee of 1% to 2% according to the exchange amount.

As long as half of the bank's US dollar foreign exchange can be exchanged this time, their bank will be able to obtain a very good profit. At that time, their Tianyu Bank will still be the one with the highest profit.

Now Tianyu Bank counts the loan of 100 billion US dollars, and their foreign exchange reserves in US dollars have reached 142 billion, which has exceeded the foreign exchange reserves of many countries in Southeast Asia. As long as the major banks such as HSBC, Standard Chartered, and Hang Seng are restricted, as well as Citigroup, Sanhe , Mitsui and other foreign-funded banks, Tianyu Bank has enough ability to block the exchange of major financial investment companies and small and medium-sized banks outside.

At six o'clock in the afternoon, Li Guangyu listened to Xia Fengxing's report on the foreign exchange exchange situation of Tianyu Bank today in the office.

Xia Fengxing said: "Li Sheng, today is the first day we have lifted the exchange restrictions, so the business volume is very large, especially some financial investment institutions have brought us a very large business volume, among which Central and Kowloon The business volume of several business outlets is the largest, and just now our finance department made statistics on the foreign exchange exchange situation of each business outlet by telephone, and today Xiangjiang USD exchanged out 26 billion U.S. dollars.”

Li Guangyu was quite surprised by such an amount. He did not expect that there were so many Hong Kong dollars in the hands of the major investment institutions in Hong Kong. It seemed that these investment companies were probably investing in foreign exchange.

Li Guangyu asked: "Today, are these money changers directly opening accounts in our bank or transferring them to other banks?"

"Most of the customers this time have transferred to other banks, mainly banks in Taiwan, Japan and Southeast Asia. These investment companies are probably inextricably linked with these banks, and some investment companies are even these subsidiary of the bank."

Xia Fengxing is very clear that many of these investment companies are backed by banks and carry out financial investment activities in Hong Kong. After the exchange rate crisis came, due to some initial restrictions of several major banks, they could not quickly exchange the Hong Kong dollars in their accounts. for other currencies.

Among them, there are also some institutions that specialize in investing in Hong Kong dollars to take advantage of this crisis. Taking advantage of the continuous decline of the Hong Kong dollar, many citizens are eager to exchange for foreign exchange. The bank does the exchange.

In this way, the large exchange fee will be lower, and they can also earn the price difference from it.

Li Guangyu said: "Now your bank should pay more attention. The exchange should be the most on the first day, and it may be reduced tomorrow. We must prevent several major banks from taking this opportunity to run on our bank. They have a huge amount of money in their hands. Hong Kong dollar."

"Li Sheng, we will carefully review the information of the money changer to prevent this from happening, and at the same time we will do a good job in risk monitoring."

……

(End of this chapter)

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