Text Chapter 842 Acquisition of the Royal Bank of Scotland
As one of the origins of modern commercial banking, the British banking industry has always been quite prosperous and developed, although in recent decades, because of the rise of the United States and the decline of the empire, the American banking industry has quickly replaced the United Kingdom as the absolute center of the world's financial banking industry.
There's no way, the dollar is directly linked to gold, so I'll ask you who can still shake Uncle Sam's transcendent status?
However, even if the British banking industry is already in decline like the sun, the strength of the former bigwigs is still strong. Don't believe it, just look at the old banks in the UK, HSBC, Lloyds, Barclays, NatWestminster, etc., which is not strong?—— although it is a bit of a gap with the Standard Bank Group, Bank of America, Citigroup, these American giants, but it is also the top in the world!
No blowing, no black, Standard Standard Chartered Bank, a subsidiary of Standard Bank Group, Longxing Bank, which was founded by Su Chenyu, is really not ranked in the British banking industry, which shows how strong the British banking industry is.
Over the years, Standard Bank Group has been focusing its strategy on its home base in Asia and the United States, the center of the world banking community, and has successively absorbed Sumitomo Mitsui Bank, Express Bank and Industrial Bank of Japan, thus building its monopoly position as the world's largest bank. However, in the British banking industry, Standard Bank Group only has the flag of Standard Chartered Bank, which is simply difficult to support.
Therefore, the soldiers of Standard Bank Group decided to point to the British Isles - this time, he came to England not only to meet Guy Rothschild, but also to expand the territory of his "banking empire".
You must know that just before Su Chenyu came to the UK, Jamie Dimon had been in the UK for a while, and the matter that Standard Bank Group was going to do was basically nearing the end.
This time, Su Chenyu wants to set off a bloody storm in the British banking industry......
The Royal Bank of Scotland, founded in 1727 and headquartered in Edinburgh, would later be the largest bank in the United Kingdom, but that was later. The current Royal Bank of Scotland, hehe, is just a small regional bank, ranking after 200 in the world banking industry.
However, I believe that no one would have imagined that such a small British regional bank would quickly rise to become the largest bank in the United Kingdom and a supergiant in the world's banking industry.
Now, the Royal Bank of Scotland is dormant, so Standard Bank Group has decided to take it in to expand its presence in the UK banking sector.
For a small regional bank with a market value of only a few billion pounds, it is really not bragging, and being able to be acquired by Standard Bank Group, the world's largest bank, is really a high incense. You know, in the face of banking giants such as HSBC and Barclays, Royal Bank of Scotland can only live on one-third of its own acre, and it also has to face competition from another rival - Bank of Scotland.
In fact, the Royal Bank of Scotland is really related to the Standard Bank Group, because in 1981, Standard Chartered Bank, the predecessor of the Standard Bank Group, once bid with HSBC for the Royal Bank of Scotland. Unfortunately, who knew that the UK Monopolies and Mergers Commission had rejected the acquisition.
However, this time is different, and today's Standard Bank Group is not the "weak chicken" of the previous Standard Chartered Bank. You know, before the takeover began, Standard Bank Group had already secured the Council and 10 Downing Street, so it went pretty smoothly.
Soon, a rather exciting news exploded in the British banking world - Standard Bank Group bought the Royal Bank of Scotland for a sky-high price of 3.78 billion pounds.
This news is exciting, not because of the amount of the deal itself, you know, the price of less than 4 billion pounds is sky-high for the Royal Bank of Scotland, but for the entire banking community, it is really nothing. The most important thing is that the acquirer of this deal is Standard Bank Group, the world's largest bank, although this deal is not large, only less than 4 billion pounds, but he is delivering an important message.
That is, Standard Bank Group is about to enter the British banking world.
Although Standard Bank Group developed from Standard Chartered Bank, a British bank, their strength in the UK is not very strong, and it can even be said that it is very weak, and it cannot be compared with HSBC.
This time, Standard Bank Group suddenly made a move to acquire the Royal Bank of Scotland, which shows that the United Kingdom and even the whole of Europe will become the focus of Standard Bank Group's next strategy.
In fact, it is true that Standard Bank, having stabilized its base camp, began to expand its sphere of influence into the European continent of the United Kingdom. So, the Royal Bank of Scotland is their first battle, and it is also a very important one.
The UK Commission on Monopolies and Mergers did not veto the deal, as it did last time, but approved it fairly smoothly. So, the final step of Standard Bank Group's acquisition of Royal Bank of Scotland is complete, and from then on, Royal Bank of Scotland will become a wholly owned subsidiary of Standard Bank Group.
This time, after the acquisition of the Royal Bank of Scotland, Jamie Dimon did not start to revamp it as usual, so that it could integrate with the Standard Bank Group as quickly as possible. After the completion of the entire acquisition, Standard Bank Group left it to its own devices, except for a few minor changes to the top management of the Royal Bank of Scotland, as if nothing had happened.
To be honest, this really makes many people look a little confused, after all, this is not at all in line with the consistent style of standard banking groups? However, if you think about it carefully, there seems to be nothing wrong with it, after all, the Royal Bank of Scotland is not one of the four major commercial banks in the United Kingdom, but a small regional bank, so there is no need to pay too much attention to it. Perhaps, in the scheme of the Standard Bank Group, the Royal Bank of Scotland is just a flag they planted in the United Kingdom, who makes Standard Chartered Bank's main business in Hong Kong and South Africa, and the business in the United Kingdom is quite small.
Well, it doesn't seem like a problem to think about it, but that's not the case.
Quite simply, now that Standard Bank Group has decided to enter the UK, it is impossible to do such a small thing, and this is just the beginning!
In a word, the rat drags the oil bottle - the big head is in the back......