Winning the new financial era

Chapter 333 Jewel Bank
The asset entrustment management signing ceremony of Yimin Wealth was relatively successful. According to the last statistics, 52% of the former Barclays customers agreed to renew their contracts with Yimin Wealth.

The number of clients is about 930, excluding the additional investment from clients, Yimin Wealth has undertaken client assets of approximately US$94 billion from Barclays.

94 billion US dollars compared with 183 billion US dollars, the customer loss is 48.6%. According to the supplementary agreement, this part does not need to pay the acquisition price.

In the final inventory, Yimin Wealth only needs to pay a total of US$1 million for the acquisition to Barclays.

After deducting the US$6400 million deposit already paid, Yimin Wealth just needs to pay the final payment of US$1.2468 million.

In addition, there are also clients who are optimistic about Yimin Wealth and make additional investment, but the proportion is not much, less than US$10 billion.

More people adopt a wait-and-see attitude, wanting to see the return on investment of Yimin Wealth before making further plans.

Cliff shook Zhang Yida's hand with a dark face, "Congratulations, Mr. Zhang, you guys got a big deal."

Mr. Zhang smiled and said, "Mr. Cliff is happy to cooperate with you. Barclays will continue to sell things in the future, so you can continue to look for us."

Cliff was stunned and didn't want to answer the words. He said goodbye and left directly.

So far, the acquisition of Barclays has come to a successful conclusion!
It can’t be said to be perfect, because many customers have lost. Although it has contributed to the reduction of the transaction consideration, Yimin Wealth will also charge a lot less management fees in the future.

"Where's Mr. Cliff?" Ding Siyao walked out of a room in the hotel, and saw that Cliff who was talking to Zhang Yida just now had disappeared.

"Leave with a full harvest!"

Ding Siyao smiled and said: "It's a lot of harvest? I saw his face is as dark as the bottom of the pot!"

"Don't talk about him! He's an English gentleman! He's just a cheapskate!"

After complaining about Cliff, Zhang Yida asked, "Have all the contracts of the customers been changed?"

Ding Siyao nodded emphatically, "It's all done. All potential clients have signed new asset management contracts with Yimin Wealth."

She sighed again, "It's a pity! Nearly [-] billion dollars in assets flew away!"

Zhang Yida shrugged and said, "Twisted melons are not sweet! Since people look down on us, then we will not force it. I hope they will not regret today's decision in a few years!"

"Having said that, I always feel a little regretful."

Ding Siyao thought for a while, and then said: "Anyway, the information of these customers is still in our hands, and then we can send financial planners to slowly transform them.

Even if there are some stubborn people, but it's good to be able to pull back some! "

"Then do whatever you want!"

Zhang Yida laughed and boasted again: "You have worked hard on this acquisition, it can be regarded as obtaining our most urgent financial license and...asset management at the lowest cost.

Fortunately, the supplementary agreement was well prepared, otherwise it would be us, not Barclays, who should be crying now! "

"Mr. Zhang, you are overrated! Before the acquisition, we hired a consulting firm, and the law firm was also the top law firm in Singapore.

Coupled with KPMG, this acquisition cost us millions of dollars just to hire these institutions.

If this is still in the pit, then I will have no face to be the CEO anymore. "

"Oh, that's right," Zhang Yida said suddenly, "As for the acquisition of funds, we can start designing products.

The underlying assets are the equity of financial companies such as banks, securities, and insurance. "

"Boss Zhang, have you made a big move recently?" Ding Siyao asked curiously.

……

In a high-end club in Singapore, Huang Hongnian handed Zhang Yida the detailed information of the two banks, and introduced to the latter:

"Yida, according to your request, I have found two suitable targets:
One is permata bank, which translates into Chinese as Gemstone Bank;
There is also a Windu bank, translated into Chinese called Windu Bank.

Headquartered in Jakarta, Indonesia, the former was established in December 1954 and is the tenth largest bank in Indonesia.

In 2002, Baoshi Bank and 4 other banks were reorganized, and currently owns securities, consumer finance leasing, insurance, venture capital, investment, communications and other related subsidiaries.

It has 56 branches, 253 sub-branches, 312 Islamic office channels, 22 cash offices, 22 mobile cash offices, 6 payment points and 1008 ATMs...

According to last year's financial report, the bank's total assets were US$163 billion and its net profit was US$2.7132 million.

At present, Standard Chartered Bank and Astra Group each hold a 45% stake in Gem Bank.

The latter, Windu Bank, is a commercial bank listed on the Indonesian stock exchange and headquartered in Jakarta.

As of the end of last year, Windu Bank's total assets were 10.09 trillion Indonesian rupiah, or about 51 billion yuan;

The total debt is 8.68 trillion Indonesian rupiah, or about 43 billion yuan.

It has 77 branches throughout Indonesia, including 17 branches, 28 sub-branches and 32 cash outlets...

In addition, Windu Bank also holds 100% equity interest in Bank Anda Indonesia.

Anda Bank, headquartered in Surabaya, Indonesia, was established in 1958. As of the end of last year, the bank's total assets were 1.9 trillion Indonesian rupiah, or about 9.5 million yuan;

The total debt is 1.68 trillion Indonesian rupiah, or about 8.4 million yuan.

It has a total of 30 branches in Indonesia, including 8 branches, 17 sub-branches and 5 cash outlets. "

Zhang Yida said with a smile: "Windu Bank buy one get one free?"

Huang Hongnian waved his hand, "Even if you buy one and get one free, both of them are small banks that are not well established."

"Let's take a look! Which one to choose? The advantage of Gemstone Bank is that it is large in size and has full financial licenses such as securities and insurance.

However, Windu Bank is small in size and has all the privileges that banks should have, and the purchase price is not high. "

Zhang Yida pondered for a moment, and said, "From the bottom of my heart, I prefer Gems Bank, but are Standard Chartered Bank and Atlas Group willing to sell their shares?"

Huang Hongnian said with a smile: "There is no such thing as willing or unwilling, as long as you can afford it, they will definitely sell it. Businessmen are a group of people who live for profit!"

Zhang Yida nodded, and asked again: "The annual net profit of Gems Bank is more than 2 million US dollars, what should be the valuation?"

Huang Hongnian compared five fingers.

……

"Mr. Winster, hello!"

Under the recommendation of Huang Hongnian, Zhang Yida met Bill Winster, CEO of Standard Chartered Bank Indonesia.

Bill Winster is about 50 years old, slightly bald, tall and typical Anglo-Saxon appearance.

Wearing a decent suit, with a faint smile on his face, he said, "Mr. Zhang from China, I have heard of your name.

I heard that Barclays suffered a big loss from you?Selling the wealth management business in Hong Kong and Singapore for less than US$2 million? "

Standard Chartered Bank is also a bank run by the British. Doesn't it have something to do with Barclays?

With doubts, Zhang Yida replied lightly: "We are only acting according to the contract!

Barclays handed over to us a little more than half the number of clients and assets, and the attrition rate was severe.

We also regret this.It is also a loss for Yimin's wealth. "

Winston waved his hands again and again, "No~No~, Mr. Zhang, you obviously misunderstood me.

The relationship between Barclays and our Standard Chartered Bank is not good. They have always boasted a long history, two centuries earlier than our bank's history.

To be honest, I have been unhappy with those arrogant guys for a long time.

I was also in a happier mood when I saw them stumble. "

"haha, really?"

Zhang Yida stopped playing around with him, and directly pointed out his purpose, "Mr. Winster, I want to buy the 45% shares of Gem Bank held by your bank. I wonder if your bank is willing to part with it?"

Winster wasn't surprised at all. When Huang Hongnian asked him out, he had already explained the matter briefly.

"Yes! As one of the top ten banks in Indonesia, Gem Bank has hundreds of branches and business outlets, covering most parts of Indonesia.

And Mr. Zhang’s Ruixiang Group is engaged in financial technology. I believe that after you master Gem Bank, you will definitely make this excellent bank even better. "

Zhang Yida couldn't be dizzy with a few words of ecstasy soup. He knew that Winster was just talking about bargaining chips.

"Yes, Baoshi Bank is indeed a bank with excellent performance. Our Ruixiang Group has also listed it as one of the best acquisition targets!"

What Zhang Yida meant was also very clear, you are just one of the spare tires, don't play "exotic goods" for me.

As if he didn't understand, Winster continued: "In Indonesia, there are not many private banks of the size of Gem Bank. The others are either state-owned banks or the treasures of the Chinese chaebols."

Huang Hongnian smiled and said: "This is a bit serious. The treasure in our family's palm is the paper industry. Banks don't pay much attention to it."

Winster knows the operation mode of the Chinese consortium, and industrial expansion must have its own bank as the core financing channel.

He wouldn't believe Huang Hongnian's words?He has been working in Indonesia for so many years, and he has never seen any Chinese chaebol sell a bank, and they all take care of them like treasures.

Winster looked at Zhang Yida and said, "Mr. Zhang, if you sincerely want to acquire Gemstone Bank, Standard Chartered Bank can provide this convenience.

We don't want the price to be too high, just a valuation of 10 billion US dollars at a price-earnings ratio of 27 times.

We can transfer all the shares in our hands to you according to this valuation. "

Zhang Yida shook his head, "It's too high! Indonesia's financial infrastructure is still very backward, and many people don't even have bank cards.

The money earned by Gem Bank is basically invested in infrastructure construction.

And the business growth rate is also very slow. Last year's business growth rate was less than ten points, right? "

Huang Hongnian also chimed in: "The P/E ratio of 10 times is indeed too high. The bad debt rate of the Indonesian banking industry is very high. I think a P/E ratio of 5 times is more appropriate."

Winster's eyes widened and he shook his head repeatedly, "5 times the price-earnings ratio is too low, and this price can't convince my superiors.

Our headquarters will not approve this transaction. "

　It's a bit late to write, sorry!I went to take wedding registration photos today, I will write Chapter 2 right away!
　　
　
(End of this chapter)