Chapter 569: Refusal and Doubt

For the Zhuang and Liu brothers, this day was one of the rare days of torment in their lives.

Although Henglong Bank and Jia Hua Bank held press conferences, denying any problems within their banks, and Henglong Bank even brought in a large number of security guards and displayed 20 million HKD in cash in a glass cabinet behind the counter, the situation remained grim.

The large pile of cash, resembling a small mountain, provided a shocking visual impact. Some people were indeed deceived and chose to forgo their withdrawals.

However, when it came to personal interests, most depositors were determined to withdraw their money.

A portion of people believed the display, which reduced the pressure on Henglong Bank slightly.

In contrast, Jia Hua Bank faced a more severe situation. Liu Cansong, unable to borrow money, saw the bank's liquidity drop to a critical level of just under 10 million HKD. The bank's public relations efforts were also inferior to those of the Zhuang brothers, making Jia Hua Bank's situation even worse than Henglong Bank's.

Unable to find a solution, Liu Cansong called his brother in Singapore. After some discussion, he decisively decided to abandon Jia Hua Bank.

The gold futures business had incurred a loss of 220 million HKD, which, although not as high as Jia Hua Bank's total value, was devastating during the current run. Continuing to invest would be too risky.

Even if they survived the run, Jia Hua Bank's brand value and assets would shrink significantly. Investing additional billions was not worthwhile.

The Liu brothers were prepared to make a tough decision to cut their losses.

Of course, if someone was willing to take over or lend money, that would be ideal.

Therefore, the Liu brothers sought out potential buyers or lenders, but no one was willing to take the risk.

Even institutions like HSBC and Standard Chartered, despite their interest, did not dare to act without clarity on the situation.

After all, who knew how much Jia Hua Bank had really lost? What if there were even bigger problems hidden underneath? They didn't want to be harmed in the process.

Despite this, Liu Cansong was still determined to make efforts. He was prepared mentally but needed to act, such as urging for loan repayments and recovering some of the previously loaned money to manage the pressure.

So, with Jia Hua Bank halting new loans, all employees in the loan department were working to recover loans.

In contrast, the Zhuang brothers were more confident about their own situation. They believed Henglong Bank could still be salvaged.

It made sense for them to think so, as after borrowing 50 million HKD from Far East Bank, Henglong Bank still had over 70 million HKD in liquidity, seven times the 10 million HKD of Jia Hua Bank. It was understandable that the Zhuang brothers felt more confident.

However, with a hole of over 300 million HKD, 70 million HKD was far from sufficient, so the Zhuang brothers needed to borrow as much as possible.

With major financial institutions unwilling to lend, the Zhuang brothers turned their attention to the big players in Hong Kong.

After some screening, they focused on Li Jiacheng.

The Zhuang brothers were from Jinjiang, Fujian Province. Li Jiacheng's uncle, Zhuang Jin'an, was a distant relative, and Fujian and Chaozhou merchants often preferred to support their fellow townsmen. Therefore, the Zhuang brothers came to explore any possible opportunities.

At Li Jiacheng's mansion, Zhuang Rongkun and Zhuang Qingquan sat face to face with Li Jiacheng, drinking tea and chatting.

Out of courtesy, Li Jiacheng let them in despite their awkward presence with gifts.

However, Li Jiacheng, who was clear-headed, slowly sipped his tea while contemplating how to handle the Zhuang brothers' difficult situation.

Seeing Li Jiacheng playing dumb, Zhuang Rongkun and Zhuang Qingquan exchanged glances. Since Zhuang Rongkun was more familiar with Li Jiacheng, he spoke up.

"Mr. Li, how is Uncle Zhuang's health? I must apologize; we haven't visited him since we last saw him in December last year."

Li Jiacheng replied with a faint smile, his tone calm, "Thank you for your concern. My uncle is still in good health."

"Well, we can be relieved then."

Zhuang Rongkun showed a relieved expression, but Li Jiacheng only smiled and did not continue the conversation.

The distant family relationship was not worth risking for Zhuang Rongkun and his brother.

"Mr. Li, I'm here because I'm in trouble. You should have heard that Henglong Bank's funds are tight and have been targeted by ill-intentioned parties, causing me problems."

"The situation is that some major clients demanded the settlement of gold futures, totaling over 400 million HKD in two days. Adhering to the principle of honest management, I agreed, which drained Henglong Bank's liquidity."

"So, when further gold futures settlement requests came up, I negotiated with them to delay by two days to adjust the funds. However, the clients refused, and somehow the news leaked, leading to rumors that our bank's liquidity chain was problematic."

As Zhuang Rongkun spoke, he appeared indignant and sighed, "Settling 400 million HKD in two days, how many banks in Hong Kong have Henglong Bank's capability? I didn't expect to be sabotaged due to my carelessness. Alas…"

With the news exposed, Zhuang Rongkun had seen the reports and concocted this logically plausible lie to try to gain Li Jiacheng's trust and secure a loan.

However, Li Jiacheng, experienced in navigating major challenges, was not easily swayed. After listening to Zhuang Rongkun's explanation, he showed sympathy and comforted him, "Mr. Zhuang, the fact that you can handle 400 million HKD shows the strength of your bank. It's just a matter of lacking luck. As long as the bank itself is sound, you should be able to pull through."

Zhuang Rongkun immediately responded, "I understand that, but the key is to get through these critical days. As long as the clients can withdraw their money for a few consecutive days, the run will gradually subside. The critical issue is the tight liquidity, and I'm worried we might not make it. That's why I came to seek your help."

"Mr. Li, considering our relationship, we're like family. I hope you can lend a hand."

Zhuang Qingquan also seized the opportunity to add, "Yes, Mr. Li. If I hadn't recently invested in a large steel mill, I could have withdrawn some funds from Apollo Steel. But the timing is so unfortunate. Otherwise, I wouldn't be here bothering you."

The Zhuang brothers' arguments intertwined, completely distancing Henglong Bank's issues and preemptively blocking any potential money requests from Li Jiacheng.

But Li Jiacheng had already formed his judgment and was not persuaded.

He expressed his apologies, "Mr. Zhuang, it's not that I don't want to help. It's just that I've recently invested in several properties, with funds tied up in Wan Chai and East District. You may have heard about it."

"It's unfortunate. If it were two or three months ago or six months later, I could have definitely lent you 200 million HKD."

Hearing this, the Zhuang brothers' faces darkened.

Li Jiacheng's offer sounded generous but was essentially a hollow promise.

Two or three months ago? That time had already passed. Saying this now was pointless.

As for six months later, Henglong Bank might not survive.

Even if it did, it would indicate Henglong Bank's stability, and Li Jiacheng might not be willing to lend 200 million HKD then.

So, Li Jiacheng was essentially just playing a game of avoidance.

"Mr. Li…"

The Zhuang brothers continued to push, but Li Jiacheng, like a slippery eel, was difficult to hold onto. Eventually, Zhuang Qingquan, having seen through the situation, stopped his brother Zhuang Rongkun's continued persuasion and proposed to leave.

Watching the Zhuang brothers' car leave, Li Jiacheng's gaze turned to the sky with a contemplative expression.

"Who is behind both Henglong Bank and Jia Hua Bank?"

"HSBC? Standard Chartered? Jiuding Bank? Or someone else?"

"Now the public opinion in Hong Kong has reached a climax in just one day. This situation seems familiar. Could it be him?"

As he thought about it, a familiar figure appeared in Li Jiacheng's mind.