Chapter 434: Unforeseen Disaster

With the live broadcast from the TV station, the grand opening of Jiuding Bank created a tremendous sensation. Many people learned about the stock god opening a bank with high interest rates, and Jiuding Securities Company had set up internal funds specifically for Jiuding Bank's clients, causing more and more citizens to flock to Jiuding Bank to open accounts.

This phenomenon became even more frenzied the next day.

After all, many people did not watch TV in the morning and missed the live broadcast of Jiuding Bank's opening ceremony.

However, the next day, not only the newspapers under Jiuding Media Company but almost all newspapers in Hong Kong reported on Jiuding Bank's opening.

The news of numerous big shots endorsing Jiuding Bank, including even the rival HSBC Chairman Shen Bi and Governor McLeod, became a highlight among highlights. If such news were not reported, what kind of newspapers would they be?

Moreover, the newspaper owners knew that at this crucial moment, reporting other news would definitely be overshadowed.

In the face of such overwhelming public opinion, their small efforts could not hold up, so it was better to go with the flow and at least get a share of the benefit.

Therefore, on the second day, news about Jiuding Bank's opening was everywhere—on the streets, buses, in the exchanges, etc. People were either watching or discussing it.

The news even spread throughout Southeast Asia due to Jiuding Media Company's extensive distribution network.

In just one day, Jiuding Bank became a complete sensation! It seemed like the entire world was talking about Jiuding Bank.

"Xia Yu, there are so many people, it's overcrowded. And along the way, I don't know how many people are discussing Jiuding Bank. You're really amazing!"

At the entrance of a branch in the eastern part of Kowloon, Xia Yu and Li Qian, dressed casually, with Xia Yu wearing a baseball cap and Li Qian in a lace-topped round hat, went unnoticed by the crowd.

Looking at the crowded branch with several security guards maintaining order, Li Qian, clutching Xia Yu's arm, exclaimed with joy, genuinely happy for Xia Yu.

"This is the effect of publicity and public opinion."

Xia Yu smiled, glanced at the girl beside him with her fair face, and explained.

"Yes, yes! Xia Yu, you set up a media company right from the start. You have such foresight; it's truly impressive."

Li Qian nodded, her eyes filled with admiration as she looked at Xia Yu.

The more she got to know Xia Yu, the deeper her infatuation grew. It was the first time she had encountered such an outstanding boy—good-looking and strong in every aspect.

Usually calm and composed, facing any challenge with equanimity, he planned everything meticulously behind the scenes, achieving victory from afar, and was always successful!

Deeply influenced by Chinese culture, Li Qian found it hard to resist such a man.

"Perhaps, Xia Yu is like Zhou Gongjin from the Three Kingdoms period. Only Xia Yu doesn't wield a feather fan or wear a silk cap?"

Suddenly, Li Qian's thoughts wandered, and she couldn't help but chuckle: "Hee hee..."

"What's wrong?"

Hearing Li Qian's delicate laughter, Xia Yu looked at her with curiosity and asked softly.

Seeing Xia Yu's gaze, Li Qian's cheeks flushed red. Blinking her beautiful eyes, she said gently, "Just now, I thought of the ancient Zhou Yu and suddenly felt that you have a very similar temperament to him!"

Xia Yu raised his eyebrows upon hearing this and couldn't help but smile happily. He gently held Li Qian's delicate hand and teased, "Then, would you like to call me Xia the Grand Commander in the future?"

"My dear Xia the Grand Commander, is that alright?"

Li Qian playfully glared at Xia Yu and suddenly called out sweetly.

"Ha ha!"

"Then you are my Xiao Qiao!"

Xia Yu laughed heartily.

Li Qian's face flushed with happiness, her smile as radiant as a flower, her eyes full of joy and shyness, and her heart was warm and content.

"Xiao Qiao?"

"I will do my best to handle the trivial matters for you. Although I can't help you much in your career, I will definitely be by your side when you are tired or troubled."

Li Qian thought to herself, her pink lips pressed together, her eyes full of determination to be a knowledgeable, gentle, and supportive wife.

Feeling the change in the person beside him, Xia Yu looked at her with curiosity, but Li Qian didn't explain, so Xia Yu didn't pay much attention.

"Let's go back."

"Mm hmm!"

...

Hongfa Bank, a small bank in Hong Kong, was founded by the Qian family, a small wealthy family in Hong Kong. Starting as a money exchange, it had grown to open three branches over thirty years, with bank assets exceeding one hundred million HKD, thanks to the capable management of the new head, Qian Benwei.

It was because of these achievements that he succeeded the family head position and continued to manage the bank diligently, aiming to lead the family to further success and enter the top echelons of Hong Kong.

In recent days, as the general manager of Hongfa Bank, he was in a terrible mood.

Standing at the entrance, watching customers withdrawing money from Hongfa Bank and rushing to queue at the Jiuding Bank across the street, he felt like he was being stabbed in the heart again.

In the past few days, he had been metaphorically stabbed countless times, and his heart was already full of holes.

At first, he noticed that a shop across the street was rented and renovated, but he didn't think much of it.

But after the unveiling yesterday, he was alarmed to find it was a branch of Jiuding Bank.

Unfortunately, it was located directly opposite his bank's headquarters.

Then the nightmare began.

Seeing the advantages Jiuding Bank advertised, he was immediately wary, but he had no way to respond and could only watch as a large number of customers flocked to Jiuding Bank to open accounts and deposit money.

This was already jealousy, but what terrified him next was that many original Hongfa Bank depositors came to the bank lobby, all came to withdraw money, and then ran to Jiuding Bank to deposit.

Qian Benwei wanted to stop them, but reason told him it was impossible, so he could only watch as more and more customers withdrew their money, often emptying their accounts!

What did this mean, Qian Benwei was very clear!

These customers intended to abandon Hongfa Bank and fully invest in Jiuding Bank.

Moreover, Qian Benwei knew that if Jiuding Bank snatched these customers away, it would be nearly impossible for Hongfa Bank to win them back.

Jiuding Bank not only took Hongfa Bank's current customers but also its future customers!

Despite his intense thinking, faced with Jiuding Bank's overwhelming advantages, Hongfa Bank couldn't come up with effective countermeasures.

From yesterday until now, the three branches of Hongfa Bank had lost 980,000 HKD in deposits!

And this was only after the second day. With Jiuding Bank's branch right opposite, it meant facing Jiuding Bank's competition continuously in the future.

If this continued long-term, Hongfa Bank's deposits and customers would definitely keep diminishing.

Moreover, a large portion of the depositors' money had been invested or loaned out, so the bank's liquidity was not very high. If too much money was withdrawn, it would strain Hongfa Bank's financial chain, greatly increasing the risk for the bank.

If customers couldn't withdraw their money, it could cause market panic; if investments couldn't be recovered, it would lead to bank losses, and Hongfa Bank might even go bankrupt!

Raising deposit interest rates wasn't an easy fix either; interest rates are the bank's foundation, and altering them can have a far-reaching impact, potentially causing the bank to incur losses.

In Qian Benwei's view, Jiuding Bank's advantages were comprehensive. Even if Hongfa Bank raised deposit rates, it would still be difficult to retain departing customers, especially since Jiuding Bank also had Jiuding Securities Company's funds as a major weapon.

"It's an unforeseen disaster. Jiuding Bank is targeting all banks, but it's most damaging to small and medium-sized banks like ours. It's a blatant conspiracy… sigh…"

Looking again at the crowded scene across the street, Qian Benwei's envy and resentment turned into a bitter sigh.

What could he do if he was less powerful?

"Forget it, I'll first look into whether to raise the interest rates. Even a small resistance might help. Ignoring it will only lead to obscurity."

With this thought, the troubled Qian Benwei walked back into Hongfa Bank.