Winning the new financial era

Chapter 456

Indonesia.

Central Business District of Jakarta.

Zhuang Chuguang, CEO of Yimin Bank, the overseas sub-brand of Yimin.com, and a group of employees have been waiting downstairs in the office building.

He is the happiest person in Yimin Wangjin's acquisition of Baoshi Bank.

Previously, some peers have been ridiculing "Yimin bank", which is obviously a P2P company, and they insist on putting money on their faces, calling it "Yimin Bank".

This time it's time to slap your face!
The headquarters has informed him that after the acquisition of Baoshi Bank, it will be renamed "Yimin Bank" and the "Yimin bank" brand will be merged into the Yimin Bank system.

And he will be the first president of Yimin Bank!

A luxury motorcade slowly stopped under the office building, Zhuang Chuguang hurriedly arranged his clothes and ties, and made sure to show Mr. Zhang a good image.

Zhang Yida stepped out of the car, and immediately saw Zhuang Chuguang waiting here.

Zhang Yida patted him on the shoulder with a smile, "Chu Guang, it's been a hard year!"

"No hard work, no hard work, thank you very much for Mr. Zhang's cultivation!"

This is true. Although Zhuang Chuguang has been stationed overseas for a long time, his options and salary are not missing at all.

Imagine the life of senior leaders of foreign capital in Shanghai in the 90s. Zhuang Chuguang is almost living this kind of life now.

After exchanging a few pleasantries, Zhang Yida followed into the office building.

It has been a long time since he visited Indonesia, and Zhang Yida found that the place has already been changed.

A three-story office building with thousands of employees can be regarded as a medium-to-large company in the domestic mutual fund field.

In Indonesia, this is a well-deserved tyrant!
"Monthly lending over [-] million yuan", this level is already the highest in Indonesia.

No matter how high it is, the risk control standards will be relaxed.

Zhang Yida was silent to the report, and Zhuang Chuguang thought it was because he was not satisfied with the performance.

Quickly opened his mouth and explained: "Mr. Zhang, Indonesia is very different from China.

We've found that $75 to $300 per person works best.It not only has scale effect, but also conforms to the principle of risk diversification...

In the simplest terms, if this standard is used, the scale of bad debts will be the most controllable and the profit margin will be the highest! "

Zhang Yida was not dissatisfied with the financial report, but rather satisfied.

A monthly loan of 1 million yuan, with a daily interest rate of 0.8%, even if the bad debt is as high as 5%, the monthly gross profit is nearly 2000 million.

After deducting salary costs, advertising costs and other costs, there is also a net profit of almost 1000 million yuan.

The loan scale of this business in Indonesia only accounts for 1% of the entire group of Yimin Wangjin, but the net profit can account for 4% of the entire group.

In other words, when lending in Indonesia, the net profit margin can be four times higher than that in China.

The interest rate is not only 4 times higher!
The annualized interest rate in Indonesia is 292%, and in China it is 36%, which is almost 8 times the difference.

This interest rate standard is also in line with the laws and regulations of the two countries.

Now that you are in Indonesia, you have to do as the Romans do.

Lowering interest rates can certainly attract customers, but it will also attract hatred, and it cannot maintain rapid expansion.

"There is no random collection, right?"

Zhuang Chuguang quickly waved his hand, "Absolutely not! We have hired the top law firm in Indonesia as our company's legal counsel.

All collection procedures are constructed and perfected by them to help us. "

Zhang Yida nodded. In this line of work, what he fears the most is that something will happen with the collection.

"How about the financial management? Can you still supply funds?"

Zhuang Chuguang shook his head with a wry smile, and then sighed: "We Chinese people are still rich, and the monthly transaction volume of Yimin Wangjin is about to exceed [-] billion, right?"

"Last month, it reached tens of billions of transactions in a single month, surpassing Lufax and ranking first in the country."

Zhang Yida didn't know whether to cry or laugh. This size was basically no worse than some small and medium-sized city commercial firms.

But with such a large volume, it is also very laborious to clear it.

He has already given orders to Yimin Wangjin to stop most advertising and user subsidies.

But I don't know whether users value his brand name "Zhang Yida" or Yimin Wangjin, the number one P2P title with a market value of tens of billions of dollars.

The more you do not subsidize, the more reliable and safe users will feel!
Zhuang Chuguang said with a smile: "Which of the larger P2P companies in China does not have a monthly transaction volume of several billion?
Indonesia has been tossing for more than a year, and the volume of transactions in a single month is tens of millions.
Most of the funds for lending still come from our own funds. "

Zhang Yida shook his head, "Our own funds are always limited, so we still have to use other people's money to make money."

"So the acquisition of Jewel Bank is to learn from Home Credit?"

Zhang Yida laughed, Gitzo was also famous as a chicken thief.

The boss lends money and becomes the richest man in the Czech Republic. When he comes to China, he provides a model.

The funds are provided by Chinese banks, trusts and other financial institutions, and the employees are also Chinese. The big boss just sits and counts the money.

Except for the hard work in the first few years of entering China, making connections everywhere, and after the later model was successfully implemented, basically there was not much trouble.

Home Credit's entry into China is just like Indonesia's cash loan that is about to enter on a large scale.

The slogan has only changed from "consumer finance" to "financial technology export".

However, the difference is that, after all, Gitzo is a big company, so it is better to look good, so that it can last for a long time.

Most of these small companies in China are P2P and cash loan companies that cannot survive in China.

A swarm of bees rushed up, how to make money, and did not consider the long flow of water, just squeezed and left, which can be called predatory lending.

In this case, Yimin bank will also be affected and impacted.

So Zhang Yida chatted with Zhuang Chuguang recently that there are more and more Chinese faces in high-end office buildings in Jakarta.

Mentioning this Zhuang Chuguang got angry, and he said: "The arrival of this group of people has completely disrupted the market.

Damn, the daily interest rate of 0.8% is not satisfied, and I brought the domestic set, and the weekly interest rate is 20%, 30%, I think it will be over sooner or later. "

"It's hard to satisfy your desire!"

Zhang Yida sighed, and said: "So we have to be prepared for the impact.

The acquisition of Gem Bank can also be seen as a step to weather the storm. "

Zhuang Chuguang was also transparent. He smiled and asked: "Mr. Zhang, you mean to use capital costs to reduce dimensionality?"

"Let's lower the dimension of wool, look at the products of Huabei, borrowing, using, and lending, have they been impacted by domestic anti-aircraft guns?"

Zhuang Chuguang nodded, "Three issues, one is the risk control technology, the other is the capital cost, and the last one is the user group.

Our risk control technology is not bad, but Indonesia’s Internet infrastructure is too poor, data capture is not enough, and risk control is very difficult...

With the gem bank, the cost of funds can widen the gap.

The last one is that Indonesian natives are too lazy, and it is difficult to find middle-class people who are suitable for products such as Huabei and Yongbei, and they start to consume as soon as they are paid..."

Zhang Yida was also scratching his head. The virtues of hard work and love of saving money of the Chinese nation have also become the soil suitable for the development of consumer finance.

If you want to make money in these areas of Indonesia for a long time, you have a long way to go!

It's easy to just squeeze it out, just take care of the risk control and the long-term flow of water, and the profit will come as high as possible.

But Yimin Wangjin can’t do this. Zhang Yida still wants to embark on a new path of banking + Internet finance.

Due to different national conditions, nationalities, and economic levels, it is not possible to directly copy the model of domestic Internet banks.

Zhang Yida asked again: "How is the business development in Vietnam, the Philippines, Malaysia, and Thailand?"

"We sent a team to each of them. It's purely a mosquito's leg. In Vietnam, which is the best developed, the monthly loan amount is only close to [-] million yuan."

Zhang Yida smiled wryly, adding up all these countries in Southeast Asia, the market is estimated to be less than one-tenth of the domestic market.

This is also the reason why many domestic companies prefer to do business in the domestic market and do not like to expand overseas.

The domestic market is huge and familiar. Who wants to take the risk to go overseas?
The current wave of cash loans going overseas is also due to the policy of the regulatory authorities, otherwise it would certainly not be so easy to move.

"Okay, let's focus on the Indonesian market for the time being, and the other countries can be prioritized."

Zhang Yida then talked about the further cooperation between Yimin Bank and five companies including RPay, GoJek, Tokopedia, Bukalapak and Traveloka.

“RPay can be regarded as domestic investment and financing, GoJek can be regarded as Didi, Tokopedia is Taobao, Bukalapak is Goudong, and Traveloka is Ctrip.

We have banks, payment tools, and scenarios, so we can shift more attention to stage installments.

E-commerce installment, travel installment, travel installment... There are successful cases in China.

In addition, small, medium and micro enterprises on the B side are also a direction that needs to be exerted. "

Zhuang Chuguang was a little surprised, "Is it difficult to do small and micro finance?"

Zhang Yida nodded, "I know this, but this is an exchange between us and OJK, the Indonesian Financial Supervisory Authority.

They approved our acquisition of Gem Bank, and we are responsible for driving the small and micro economy. "

Zhuang Chuguang understood, so he just said, a chicken thief like Mr. Zhang, how could he do such thankless things.

"What about the specific direction?"

Zhang Yida said with a smile: "Like Ali, we also issue loan quotas to Taobao stores, and RPay's cooperative merchants can also grant credits."

Zhuang Chuguang's mouth is wide open, and many things are indeed mature and can be done.

After Zhang Yida communicated with Zhuang Chuguang for a while, he left the company and was ready to go to the shareholders meeting of Yimin Bank.

(End of this chapter)