The youngest son of the chaebol family, Hu Mou Xianmin

Chapter 434 Investing in a credit card company?Not as good as an investment bank!

Miracle Group, Vice President’s Office.

Rachel walked in with a copy of the latest information, "Teacher, here is the information of the LG credit card company you want!"

Wu Shixian took it and flipped through it, then handed the information to Chen Daojun on the sofa.

"It has to be said that President Gu of LG Group is really courageous! He was able to build such a huge credit card company within a year. Now the number of cardholders has exceeded 200 million~!" Wu Shixian Said with some emotion.

……

It turns out that since the Asian financial crisis broke out in 92, the country's economy and financial system have been severely damaged by the financial crisis.In particular, loans from large domestic chaebol enterprises have become a "nightmare" for commercial banks.Because it's easy for these guys to borrow money, but they're filthy lads when it comes to repaying the money, and they do everything possible to delay repayment or even refuse to repay.

With the recovery of the economy, banks in Bangzi Country began to adjust their development strategies, bypassing corporate loans, and vigorously developed consumer credit for citizens, hoping to improve the past situation where credit assets were too concentrated in corporate loans.

The Blue House has also introduced relevant support policies to encourage citizens to consume on credit.It is in this environment that the credit card business has developed. LG Group is currently the first large enterprise to develop consumer credit business for citizens.

Through the established credit card company, they open credit card limits to citizens on the one hand, and on the other hand, they use the collected citizen information to borrow money from cooperative banks. The credit card company is more like an intermediary, obtaining loans from banks, and additional Provide credit loans to citizens at a certain interest rate.

……

Chen Daojun couldn't help frowning a little. In his opinion, when this kind of credit card company seeks a loan from a bank or other institution, the mortgage is the information of the citizens who apply for the credit card.Once these citizens have no money in their pockets, the repayment will be overdue.

Once the phenomenon of overdue repayment by citizens occurs in a large area, the banks and credit card companies that have provided loans will have huge problems, the capital chain will be broken, and the bank/company may go bankrupt~!

In the previous life, the LG credit card company had been established for 3-4 years, and there were a lot of bad debts, which led to the breakdown of liquidity. As a last resort, it had to announce that it would stop providing cash withdrawal services.

In the end, it was Chairman Gu who, relying on the reputation and connections of the LG Group over the years, found 8 banks to form a bond syndicate to provide loans of more than 2 trillion won, and then pulled the LG credit card company that was on the verge of bankruptcy. return!

……

"I am not optimistic about the credit card market, this kind of behavior habit of overdraft consumption in advance. Once the funds break down, the overdue repayment will inevitably happen. Back then, those big chaebols and big companies couldn't afford to repay the loans they borrowed from the bank. Loans from people, not to mention ordinary people, are just fishing for money!"

Chen Daojun naturally understands Wu Shixian's idea of ​​getting involved in a credit card company, but there are too many risks and hidden dangers in it.

"Although the credit card market is not good, I am still very interested in acquiring banks~!" Chen Daojun then made a new proposal, "It would be interesting if we could have our own bank!"

"Acquisition of a bank? Boss, are you kidding me?!" Before Wu Shixian could speak, Rachel on the side couldn't calm down. In her opinion, the banking bureau is definitely the first echelon industry in Bangziguo, regardless of these big chaebols in the country. , Big companies have a lot of glory, who knows how much bank loans they are carrying behind their backs? !

To put it bluntly, are these companies not wage earners of banks?It's just bigger!
Chen Daojun said with a smile, "Of course it is serious! Now that the Internet bubble has burst, we have to consider other money-making projects besides taking the opportunity to short. In my opinion, investment banking is a good choice~!"

He was very inspired by the conversation between Chen Daojun and Lindsay Morgan at the celebration party of the Goldman Sachs Group in the beautiful country.The financial giants in the beautiful country who can dominate the stock market and the futures market all have one thing in common, that is, they have their own banks.

Raise more funds through the bank's external deposits, and at the same time lend these funds or invest them in the stock market to earn more profits.Such a transaction, as long as there are no major mistakes, will definitely make a profit without losing money~!

He plans to follow suit and establish his own banking system in Asia to support his business territory.At that time, the bank will be the core and provide a steady stream of funds for all its companies and groups. After receiving sufficient financial support, these enterprises will soon be able to expand their business and make profits back to the bank.

……

"...Since you want to invest in a bank, boss, have you already selected your target?" Wu Shixian frowned and asked, "Domestic Woori Bank, KB Bank, Hanjin Holdings, Nonghyup, Hana Financial Holdings..., and Banking giants such as Woori Bank and KB Bank are state-owned, and Cheong Wa Dae will never allow us to acquire them!"

"Don't worry, President Wu! I've locked my target, and state-owned banks are naturally not in my plan. My target is Shinhan Bank under Hanjin Holdings!"

Chen Daojun replied confidently, "Compared to the first two state-owned banks, Hanjin Holdings is a listed company on the New York Stock Exchange and the Bangzi Stock Exchange. Since it is a listed company, we can acquire its shares and Become a shareholder of Hanjin Holdings."

"And we can also continue to increase our holdings of Hanjin Bank shares through additional investment and dilution of the other party's equity, achieving the ultimate goal of controlling Hanjin Holdings!"

Chen Daojun's words shocked Wu Shixian a little. He never expected that his boss would target Shinhan Bank under Hanjin Holdings!But one thing to say, Chen Daojun chose the right time!

……

Although Bangzi Country's current economy has gradually recovered, it is about to get rid of the various influences of the 97 financial turmoil.But the banking industry in Bangzi Country is not so "lucky"!

You must know that a large number of bad debts and bad debts have broken the capital chain of the major banks in Bangziguo. Although they have received help and support from the Blue House and the IMF in the follow-up, they have obtained part of the emergency turnover of loans, but many of the loans that have been released have been lost. I can't get it back.

It was not because the other party owed the debt, but because many small and medium-sized companies that had taken loans failed to withstand the pressure and went bankrupt!This has also caused many bank assets to shrink a lot, and the funds on hand are obviously not as abundant as before.

……

"President Wu, you can get in touch with the heads of Hanjin Holdings and Shinhan Bank these two days to find out. If they are willing, our Miracle Group is willing to invest!" Chen Daojun showed a smirk, and it was time for him to play the role of the savior again. It's time~!

(End of this chapter)