The signing ceremony of Yimin Wealth's asset entrustment management was relatively successful, and 52 of the original Barclays Bank customers agreed to renew their contracts with Yimin Wealth.

The number of clients is about 930, not counting the part of the additional investment of customers, Yimin Wealth has inherited about 9.4 billion US dollars of client assets from Barclays.

$9.4 billion to $18.3 billion, a 48.6% loss of customers, which is partly not subject to the purchase price according to the supplemental agreement.

In the end, Yimin Wealth only needs to pay a total of $188.68 million to Barclays.

After deducting the $64 million deposit already paid, Yimin Wealth will pay another $124.68 million in final payment.

In addition, there are also customers who are optimistic about Yimin's wealth and have made additional investments, but the proportion is not much, less than 1 billion US dollars.

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

Cliff shook Zhang Yida's hand with a dark face, "Congratulations, Mr. Zhang, you have picked up a big bargain." ”

Mr. Zhang smiled: "Mr. Cliff has a good cooperation, and Barclays will sell things in the future, so he can continue to find us." ”

Cliff was stunned, didn't want to take the words, said goodbye and left.

So far, the Barclays acquisition has come to a successful conclusion!

It can't be said to be complete, many customers have been lost, although it has contributed to the reduction of the transaction consideration, but 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 still talking to Zhang Yida just now, was gone.

"Gone with a lot of harvest!"

Ding Siyao smiled: "Full of harvest, I see that his face is as black as the bottom of the pot!"

"Don't talk about him! What an English gentleman!

After complaining about Cliff, Zhang Yida asked, "All the customer's contracts have been changed, right?"

Ding Siyao nodded heavily, "It's all done, and all interested customers have signed new asset management contracts with Yimin Wealth." ”

She sighed again, "It's a pity! Nearly 10 billion dollars in assets have flown away!"

Zhang Yida shrugged his shoulders and said: "The twisted melon is not sweet! Since people don't look down on us, then we are not reluctant." Hopefully in a few years they won't regret their decision today!"

"That being said, I always feel a little regretful. ”

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

Even if there are some stubborn people, let's pull some back!"

"Then take your shoulders!"

Zhang Yida smiled and boasted: "You have worked hard in this acquisition, and you have obtained our most urgent financial license at the lowest cost, as well as ...... Manage assets.

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

Before the acquisition, we hired a consulting firm, and the law firm was also the top law firm in Singapore.

Add to that KPMG, and this acquisition cost us millions of dollars just to hire these agencies.

If this is still stepping on the pit, then I don't have the face to be this CEO anymore. ”

"Oh, by the way," Zhang Yida said suddenly, "for the matter of M&A funds, you can start designing products."

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

"Mr. 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 details of the two banks, and introduced the latter to the latter:

"Yida, according to your request, I have identified two suitable targets:

One is permatabank, which translates into Chinese as gem bank;

There is also Windubank, which is translated into Chinese as Windubank.

Headquartered in Jakarta, Indonesia, the former was established in December 1954 and is the 10th largest bank in Indonesia.

In 2002, Gem Bank was reorganized with four banks, and now has securities, consumer financial leasing, insurance, venture capital, investment, communications and other related subsidiaries.

It has 56 branches, 253 sub-branches, 312 Islan office channels, 22 cash offices, 22 mobile cash offices, 6 payment points and 1,008 ATMs......

According to last year's financial report, the bank's total assets were $16.3 billion and net profit was $271.32 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 Indonesia Stock Exchange and headquartered in Jakarta.

As of the end of last year, Windu Bank's total assets stood at IDR 10.09 trillion, or about RMB 5.1 billion.

The total debt is IDR 8.68 trillion, or about 4.3 billion yuan.

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

In addition, Windu Bank holds a 100% stake in Anda Bank Indonesia.

Headquartered in Surabaya, Indonesia, Anda Bank was established in 1958, and as of the end of last year, the bank's total assets were IDR 1.9 trillion, equivalent to about 950 million yuan;

The total debt is IDR 1.68 trillion, or about RMB 840 million.

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: "Wendu Bank, isn't that buy one get one free?"

Huang Hongnian waved his hand, "Even if you buy one get one free, the two are both small banks that are not in the stream." ”

The advantage of Gem Bank is that it is large in size and has full licenses for securities, insurance, and other financial services.

Windu Bank, on the other hand, is small in size, and the bank has all the privileges it 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 Gem Bank, but are Standard Chartered Bank and Tesla Group willing to sell their shares?"

Huang Hongnian said with a smile: "There is nothing willing or unwilling, as long as you can afford the price, they will definitely sell it." Businessmen are a group of people who live for profit!"

Zhang Yida nodded, and asked again: "Gem Bank's net profit of more than 400 million US dollars a year, how much should the valuation be?"

Huang Hongnian made a five-finger comparison.

......

"Hello, Mr. Winster!"

Under Huang Hongnian's introduction, Zhang Yida met with Bill Winster, CEO of Standard Chartered Bank Indonesia.

Bill Winster was about fifty years old, with slightly bald hair and a tall build, typical of Anglo-Saxon looks.

Dressed in a modest suit and with a faint smile on his face, he said, "Mr. Zhang from China, I have heard of your name.

I heard that Barclays had a big loss at your hands, and sold its wealth management business in Hong Kong and Singapore for less than $200 million?"

Standard Chartered Bank is also a British-owned bank, so it has nothing to do with Barclays, right?

With questions, Zhang Yida replied lightly: "We are just doing things according to the contract!"

Barclays handed over just over half of its customers and assets, and the attrition rate was severe.

We also regret this. It is also a loss for Yimin wealth. ”

Winster waved his hand repeatedly, "No~No~, Mr. Zhang, you obviously misunderstood what I meant."

Barclays doesn't have a good relationship with us at Standard Chartered, and they have always boasted of a long history, two centuries before our bank's history.

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

Seeing them make a big mistake makes me feel happier. ”

"Huh, huh?"

Zhang Yida stopped going around in circles with him, and directly pointed out his intentions, "Mr. Winster, I want to buy the 45% stake in Gem Bank in the hands of your bank, I wonder if your bank is willing to cut love?"

Winster was not surprised at all, when Huang Hongnian asked him, he had already explained things briefly.

As one of the top 10 banks in Indonesia, Gem Bank has hundreds of branches and outlets, covering most of the country.

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

A few words of ecstasy soup could not stun Zhang Yida, he knew that Winster was just talking about bargaining chips.

"Yes, Gem Bank is indeed a bank with a good track record. We at Ruixiang Group have also listed it as one of the best acquisition targets!"

Zhang Yida's meaning is also very clear, you are just one of the spare tires, don't give me any "strange goods".

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

Huang Hongnian said with a smile: "This is a bit serious, the treasure of our family is the paper industry, and the bank's words are not very important." ”

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

He has been in Indonesia for so many years, and he has never seen a Chinese chaebol sell a bank, and they are all like treasures.

Winster looked at Zhang Yida and said, "Mr. Zhang, if you really want to buy Gem Bank, our Standard Chartered Bank can provide this convenience."

We don't want to be too high, just a valuation of $4.7 billion at 10 times P/E.

We can transfer all the shares to you at this valuation. ”

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

Most of the money earned by Gem Bank is invested in infrastructure construction.

And the business growth rate is also very slow, last year's business growth rate was less than 10 points, right?"

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

Winster's eyes widened, and he shook his head repeatedly, "The 5 times P/E ratio is too low, and this price can't convince my superiors."

Our headquarters will not approve this transaction. ”