Reborn, back to a small county town to become a wealthy family

Chapter 727 Unexpected Drawbacks

Wen Wan wrote down Luo Yang's thoughts one by one, and also offered some of her own suggestions.

The phone call lasted for almost half an hour.

"Boss, let me repeat your requirements. Please check if there's anything I've missed."

He recited it for several minutes, then continued for a while.

"Good, you've basically memorized everything."

Luo Yang nodded and said, "Let's get it done as soon as possible."

"Boss, I remember you have a private banking account at Yongcheng Bank, and you have a dedicated financial services manager."

Before hanging up, Wenwan offered her advice: "As their valued client, you can enjoy all kinds of exceptional services. If they can cooperate with this proposal ceremony, we can save a lot of energy in many aspects, especially given the tight schedule."

"Then you should contact Dong Xuan directly."

Luo Yang clicked his tongue and said, "Don't get your hopes up too high. After all, the banking business in Ningbo is not as extensive as the four major state-owned banks and a few established banks. Their private banking services are quite limited. To be honest, it was my mistake to put all my eggs in one basket."

He's right.

If Luo Yang had had private banking concierge services from ICBC or China Merchants Bank earlier, he could have easily entrusted them with his marriage proposal.

Your words have given me a wake-up call.

Instead of expressing regret or remaining silent, Wen Wan said with a hint of excitement, "Although you don't have a large private account with other banks, our company has had several pleasant collaborations with ICBC and SPD Bank, and the accounts of our subsidiaries are also set up in these major banks. Asking them for help will definitely be very helpful."

"Not bad."

Luo Yang immediately praised, "Director Wen's ability to think like this shows that he has a strong work ability. Here's what I'll do: I can give you an authorization. Whoever can be of great help in this proposal ceremony, I'll go to their bank and deposit more money later."

"Boss, are you just making empty promises to the banks?"

A gentle laugh came through the phone to Luo Yang's ears: "For those who meet the standards of private banking concierge services, a few million is enough, and tens of millions is not too much. What is the range of fluctuation for your promise to deposit a little more?"

Ha ha
Luo Yang has a sum of money in his private account that is currently trading in the US crude oil futures market. It has already reached hundreds of millions of US dollars. If he withdraws it in a few months, it may be worth nearly a billion US dollars. He would be one of the most prestigious clients in any bank.

"Try to find someone in the China Merchants Bank network. They should know how much money is in my personal account."

For this foray into the US crude oil futures market, Luo Yang used several accounts with China Merchants Bank, and he also used China Merchants Bank for margin financing, which they monitored in real time from the back end.

Although the private banking department and they are not in the same system, they are still from the same bank, so it is not difficult for them to learn about Luo Yang's situation.

"Boss, did you use a China Merchants Bank account to trade crude oil futures this time?"

Wen Wan actually made that connection instantly; her reaction was really quick.

"That's all for now. If you think of anything missing or anything that needs to be added, please feel free to contact me by phone."

Thinking that he had other things to do, Luo Yang gave a word of advice and then ended the call.

He then made several more phone calls, and it took him more than half an hour to finally settle the matter.

I originally came here to handle company affairs, but it turned into arranging a marriage proposal ceremony. With not much time left, I simply turned on my computer and started writing the proposal ceremony process that I had in mind.
Luo Yang didn't expect that his one phone call would get so many people busy.

The first person to call him was Dong Xuan.

"I didn't expect that Mr. Luo would be planning to end his single life at such a young age."

President Dong's familiar voice came through the phone to Luo Yang's ears: "This doesn't give other young girls a chance at all."

Are you feeling sorry for other girls, or for yourself?

Luo Yang teased, with a double entendre, "You wouldn't have other plans just because you heard I'm going to propose to someone else, would you?"

"Having latched onto your powerful backer, young and rich, only a fool would run away on their own."

Dong Xuan chuckled and said, "Besides, I'm rather lazy and don't want to move."

"Let's get down to business."

Luo Yang felt that continuing the conversation like this would put him at a disadvantage, so he asked seriously, "Did Wen Wan call you?"

"You are a valued private banking client of Yongcheng Bank."

Although Dong Xuan stopped joking, her voice remained charming: "Unfortunately, just as you said, Yongcheng Bank is only a local commercial bank after all. It has some influence and connections in the Jiangsu, Zhejiang and Shanghai area, but its reach can't possibly extend to Hainan, let alone affect those big stars."

"Come to think of it, wasn't it you who held me back?"

Luo Yang pouted and said, "Back then, I wanted to build a team to manage my personal assets, but you insisted on persuading me to help you build connections and put my personal account in Yongcheng Bank. Now, I'm in an emergency, and you can't help me anymore."

The words seemed to carry a hint of complaint, but the tone revealed that it was more of a teasing remark to Dong Xuan.

"I didn't expect you to be planning to get married so soon."

Dong Xuan offered a forced explanation for herself, then quickly changed the subject, saying, "However, Wen Wan told me about your suggestion, so before calling you, I contacted friends at Pudong Development Bank and ICBC, and briefly explained your situation."

"The results of it?"

"The result is that these two banks have long coveted Mr. Luo and are eager for you to owe them a favor."

Dong Xuan replied with a smile, "Whether it's Pudong Development Bank, Industrial and Commercial Bank of China, or both, it's up to you to choose."

"Let Wen Wan handle this matter." Luo Yang thought for a moment and said, "I know the time is a bit tight, so let it be. I'll repay everyone's favors one by one after my proposal ceremony is perfect."

"cluck"

Upon hearing Luo Yang's words, Dong Xuan chuckled on the other end of the phone.

"Mr. Luo, actually, this kind of favor isn't as big as you think."

Dong Xuan then explained, "Such a large bank has a private banking department that serves high-net-worth clients all over the country, and the number of them is enormous. Because of its scale, countless businesses are eager to sign cooperation agreements with them. For them, the services needed for your marriage proposal are probably just a matter of a few phone calls, very simple."

Of course, Dong Xuan's statement is simple, but there is a premise to it.

That's why Luo Yang is worth doing this for.

As Wen Wan mentioned earlier, Luo Yang's company has collaborated with SPD Bank and ICBC in Shanghai.

Therefore, both banks were very familiar with Luo Yang's financial situation.

For such high-net-worth clients, the opportunity to do them a favor is something they would be extremely grateful for.

Wen Wan hadn't thought of this, so she called Dong Xuan first.

The company's finance manager could contact these two banks directly without going through Dong Xuan's connections, and they would agree on the spot.

"If it's simple, then it's even easier to handle."

Luo Yang felt much more relaxed and said in a light tone, "If you handle this matter to my satisfaction, I will remember this as a great favor."

"You said so!"

Dong Xuan said in a playful tone, "I happen to have some free time right now, so I might as well take a vacation and go to Hainan for a trip. I'll also keep an eye on your proposal ceremony while I'm at it. I need to make sure my future boss is satisfied before I can have a good life."

As this woman spoke, she started to become indecent.

"Hmm, this time of year is perfect for you to take a vacation."

Luo Yang revealed some information to her: "The credit cooperative in my hometown has started to reform, and it's estimated that it will be discussed at a meeting this month. I don't plan to get involved at this stage; I plan to resolve it through market mechanisms."

After returning last week, I was busy with company meetings and didn't have time to talk to Dong Xuan.

Taking advantage of the call, Luo Yang told her about his plan to acquire the credit cooperative.

What do you think?

After he finished speaking, Luo Yang asked Dong Xuan for her opinion.

"President Luo, you've already made all the arrangements, what objections could I possibly have?"

Dong Xuan sighed and said, "Your plan has saved a lot of trouble, but there are two drawbacks that you haven't taken into account."

"Ok?"

Luo Yang paused for a moment: "Tell me more about it."

"The first is the premium."

Dong Xuan explained, “Using market methods to solve this will definitely cost more money, because after the restructuring, they will definitely have to give up some non-performing assets, and may even use administrative means to increase the assets of the newly established commercial bank. If you use market methods to acquire them, not only will the cost increase significantly, but you will also have to pay a premium.”

That makes sense.

Luo Yang thought for a moment and asked, "How much of a premium do you think it will be?"

"How would I know?"

Dong Xuan said, both amused and annoyed, "I don't know how much net assets your hometown's credit cooperative currently has, how much non-performing assets it has, or how much deposit it has. Moreover, I don't know the restructuring plan. How could I possibly estimate how much money it would cost to acquire it in the future?"

When will the research team be assembled?

"There's no need for that now."

Dong Xuan said, "We originally thought you would discuss the acquisition and cooperation with the government. If a preliminary agreement is reached, then our research team can fully get involved. But now you don't intend to get involved at all in the early stages. How can our research team possibly enter the credit cooperative to check the data and accounts?"

Luo Yang: "."

"Then tell me about the other drawbacks."

"And then there's the issue of time."

Dong Xuan sighed and said, "I don't know how long it will take for your city to discuss the restructuring and reach a resolution, but I know another timeframe. When the documents are issued, it will take at least half a year to transform a credit cooperative into a commercial bank. It's simply impossible."

"you mean"

After a pause, Luo Yang concluded, "From the city's discussion on restructuring to the transformation of the credit cooperative into a commercial bank and its marketization, it will take about a year."

"It will take at least a year!"

Dong Xuan corrected Luo Yang's statement: "This is under the premise that there is no controversy in the reform plan. If the distribution of benefits is uneven, or if there is resistance when dealing with non-performing assets, it may take two or three years!"

Luo Yang was stunned.

(End of this chapter)