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In the North American market
Since March 2000, the Fed's interest rate has been lowered from a high of 6.25 to the current 1.75. With the economic recovery, the US real estate market has been completely ignited.
Over the past three years, stimulated by the Federal Reserve's interest rate cuts to release liquidity, the prices of completed houses and stock houses have risen sharply every year.
The cumulative increase of real estate across the United States is between 60% and 80%, and the prices of some middle-class white residential areas with good law and order have even doubled.
In the United States, it is very common to buy a house with a loan.
?The major banks in North America have tried their best to grab the housing loan market, and preferential loan policies have emerged one after another, and even 10% down payment and zero down payment discounts have appeared.
As long as customers pay a small amount of money for insurance, they can move into spacious and bright villas with swimming pools, including a large number of high-risk old black and South American customers.
Some customers with poor credit records or unstable income are defined as subprime credit borrowers because they cannot meet the bank's loan standards.
For banks, this part of subprime mortgage loans is a high-risk, high-yield business, because its loan interest rate is much higher than the average level.
In the face of huge profits, there are always people who are desperate to take risks, but the bank knows the danger and does it, so they hope to share the bank's risk through the financial market. This is where the cds contract (credit default swap) appears
Wall Street Lehman packaged these risky assets, designed a set of complex subprime loan asset packages, and then took them to the financial market to operate to earn huge profits.
Unlike HSBC, it is completely unaffected by these market turmoil.
Still choose the minimum 30% down payment, must provide a stable and reliable income certificate or resume, and never relax the income review of the applicant.
Although it has gained little in this round of housing loan boom, HSBC is not concerned at all.
How much can you earn with a loan at a base rate of 1.75?
The one-time acquisition of Hong Kong Cheung Kong Industrial Group and Hutchison Whampoa by Royal Family Fund consumed more than 43 billion US dollars in loans, and took out more than 11 billion US dollars to hold Apple. The loan interest rate is 2.35%, and the income is high and the risk is almost equal to zero. .
The expansion of companies under the consortium also consumes a lot of money.
In the business sector of HSBC, supporting domestic small and medium-sized enterprises in China to carry out overseas business is the most important thing. Other large multinational banks are timid and hesitant, afraid of encountering unpredictable risks.
HSBC has no such worries at all. It supports domestic enterprises to develop foreign trade with the greatest efforts, the widest range, the best service, and the most categories. It can provide global financial services without dead ends.
In the domestic business circles, it has a strong reputation and is a well-deserved first choice.
Just this big chunk;
Every year, it can consume hundreds of billions of dollars in short-term and medium-term loans. These are all high-income loan projects, and the interest rate is even as high as 6-7%.
Moreover, the subsequent value-added banking business is more profitable.
International market counseling, channel development, market analysis and research, corporate mergers and acquisitions, counseling for listing, cross-border fund settlement, private bank wealth management, etc., HSBC, by virtue of its advantages in China and Southeast Asia, has cut a large cake in the rapidly growing international trade Got a big piece.
This part of the profit is stable and rich, wouldn't it be ten times better than speculating on junk bonds, and ten times better than lending money to Lao Hei to buy a house.
If you don't have that diamond, don't do porcelain work. This outsider is really envious.
It has only been more than two years since China joined the WTO in 2001 to do business completely openly. It is difficult to eliminate the deep-rooted prejudice in the minds of foreigners.
Therefore, foreign-funded banks hold a lot of funds but have many worries in one way or another, and give up this piece of blue ocean market in vain.
Wang Yaocheng knew that this was completely unfounded worry. HSBC's business in the mainland was more extensive and larger than in the past, and the benefits would naturally be better.
There is money in the pocket, and the confidence to expand in Europe is consolidated.
On September 2, 2003, Motorola's board of directors rejected the plan to acquire Huawei, believing that the acquisition cost too much cash and the market risk was too high, so it should be stopped decisively.
September 11, 2003
Hong Kong Globe Telecom acquired British O2 Telecom, a subsidiary of Telef¨®nica, at a price of 8.7 billion pounds (13.92 billion U.S. dollars), realizing the first acquisition case in the British Isles.
The British o2 telecommunications company is separated from the largest telecommunications company BT in the UK. The company is headquartered in Slough, England. It is now the tenth largest telecommunications company in Europe."
October 11
HSBC announced that it intends to raise 28.75 billion pounds (46 billion U.S. dollars) by issuing 25% more shares. The major shareholder, Royal Family Fund, expressed its full support. Merger and acquisition of Bavaria Bank in Germany to achieve expansion in the European financial market, and the shortfall will be made up by HSBC's own funds.
It is used to improve the layout of banking outlets in Europe and further expand the scope of banking operations.
After a three-day suspension of trading on the London and Hong Kong stock exchanges, HSBC¡¯s additional stock issuance was successfully completed, raising a total of 28.75 billion pounds (46 billion U.S. dollars) for corporate expansion, and completed the planned additional issuance of new shares.
After HSBC's large-scale merger and acquisition expansion, Royal Family Fund participated in most of the allotment, and its equity dropped from the original 63.7% to 57.6%, still firmly holding the controlling stake.
After the completion of the merger, the market value of HSBC further expanded to about 170 billion pounds, worth about 270 billion U.S. dollars, not far from the number one Citibank.
? HSBC's strategy to manage the European market was swift and powerful, with two heavy punches as soon as it made a move, and its appetite was frighteningly good.
People in the European financial circles have commented on this;
? HSBC's frequent moves have disrupted the European financial landscape and produced qualitative changes. It is thought-provoking where it will go in the future.
London has further strengthened its important position in the European financial landscape, highlighting its role as an international financial center.
The French and German banking circles are about to come, and the market structure is suspected to be restructured.
Barbarians knock on the door, where does the EU financial market go?
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