章節 1506: Chapter 1506: 4.4 billion dollars in two days!
'Immediately tell York Gonzalo to keep the people from Coca-Cola Company at bay, we will rush back right now!'
Upon Brooke Gascoigne's order, everyone on the yacht took up their respective positions, and immediately the yacht sped off towards the coast at maximum speed.
By the time Brooke Gascoigne arrived in the Argentine capital of Buenos Aires, it was already dark.
And his face was as dark as ink.
During the journey,
Brooke Gascoigne did not waste any time and kept working remotely on the phone.
In addition to communicating with York Gonzalo to understand the situation, he also personally called the presidents of each South American country branch to ask them to calculate the funds.
He had to prepare for the worst.
If negotiations with Coca-Cola failed, and in order to minimise the negative impact, he would have to let Coca-Cola withdraw the $520 million in deposits within a limited time frame. He had to know what cards he had!
For such a Fortune 500 company, not to mention that he was the president of the bank's South American region, even Saren Francisco would have to consider the impact carefully.
After all, if it was not handled properly, it could easily cause huge damage to the credit and reputation of Banco Bizkaia in Bilbao.
After all, banks make their living on credit and reputation, and if these are in doubt, it can easily lead to a management crisis.
...
Upon arriving at the BBVA Tower, the president of the Argentine branch, Jorge Gonzalo, was waiting at the entrance to the lobby.
When he saw Brooke Gascoigne, he hurried up to him and apologised right away.
'President Gascoigne, I'm very sorry about what happened,'
Brook Gascoigne wasted no time in reprimanding him. After scanning the room, he hurriedly asked, 'Where is the head of Coca-Cola?'
'Edmund Longman is still in the meeting room on the second floor, and he is losing patience,' York Gonzalo hurriedly said.
'Take me there quickly.'
Without waiting for an answer, Brooke Gascoigne walked quickly towards the inside, and York Gonzalo hurriedly caught up and led the way.
Soon, they arrived at the meeting room on the second floor and met Edmund Longman, who was impatient inside. The latter also saw the group of people entering.
'Mr Langman, I'm sorry to have kept you waiting. This is Mr Brooke Gascoigne, our bank's president for the South American region.'
After being introduced by York Gonzalo, Brooke Gascoigne extended his hand and greeted him with a warm smile: 'Mr Langman, I'm honoured to make your acquaintance. I sincerely apologise for keeping you waiting so long.'
Edmund Longman's displeasure finally disappeared when he saw the smile, and he gave a professional smile in return. After shaking hands, he said in a very official tone, 'President Gascoigne, hello. Since you're already here and it's not early anymore, I'll get straight to the point.
'I hope to transfer all the deposits of 520 million US dollars that exist in the Bilbao Biskai Bank. I hope to complete all the procedures and receive the money tomorrow afternoon.'
Brook Gascoigne's face became serious, and he hurriedly asked, 'Mr. Langman, is it because we did a poor job of providing acquisition assistance as we previously agreed with your company that you have made this decision?'
'Can you give us another chance?'
Edmund Langman shook his head directly and said ruthlessly, 'President Gascoigne, that is not the reason. In fact, I very much recognize the strength of your bank, but I'm sorry, this decision was made by the head office.'
'The headquarters in Argentina have temporarily shelved their investment plans and all funds must be withdrawn to the United States. I have fought for you with the headquarters, but I cannot change the result. I hope you will not make things difficult for me.'
'Mr Langman...' Brooke Gascoigne tried to fight for them again.
But as soon as he opened his mouth, he was interrupted by Edmund Longman, who glanced at his watch and said, 'President Gasco, it's getting late. My family is waiting for me to come home for dinner, and the colleagues I came with have to go home as well. I'm leaving first, you don't need to see us off.'
With that, Edmund Longman walked directly towards the door with a few subordinates.
Brook Gascoigne and York Gonzalo and the others hurried after them, still trying to persuade them with kind words while suppressing their negative emotions along the way, but none of it could change Edmund Langman's mind.
It wasn't until they saw Edmund Langman's vehicle receding in the distance that
Brook Gascoigne clenched his fists and swung them around, finally unable to hold back his expletives: 'mierda...'
The other subordinates around him suddenly slowed down their breathing, afraid of attracting trouble.
'Gonzalo, prepare the funds!'
After calming down a little, Brooke Gascoigne still looked gloomy as he said to his sidekick, York Gonzalo.
The latter's face twitched a few times, and he said with a stiff upper lip, 'President Gascoigne, I have already asked the staff to urgently do a count, and at present, our current liquidity in Argentina is less than 50 million US dollars!'
'I need your help.'
Brooke Gascoigne's eyes widened, and he asked out loud, 'Why is the current liquidity so low?'
York Gonzalo hurriedly explained, 'Our deposits rose sharply in January. At the previous meeting, you asked our branches to speed up the turnover of funds and conduct assessments. It so happened that many well-qualified companies had loan demands in the past two months, so we lent out the funds.'
'According to previous communication with Coca-Cola, their investment and construction plan will last for one year, and the funds will be used in batches. Therefore, Coca-Cola's deposits are also within the scope of our loan funds.'
'And didn't you transfer 300 million US dollars to the headquarters more than 20 days ago?'
This...
These words left Brooke Gascoigne speechless. Indeed, York Gonzalo had followed his instructions.
In terms of work alone, if the withdrawal of funds by Coca-Cola had not happened, he would have praised him for a job well done!
Therefore, the anger he had wanted to vent had to be forcibly suppressed, which made him feel extremely uncomfortable.
Seeing York Gonzalo looking at him with pleading eyes, he could only take a deep breath and say, 'Luckily, I have already notified the branches in other countries on the way to ask them to calculate the liquidity situation.'
'The funds will be remitted tomorrow.'
York Gonzalo let out a sigh of relief and hurriedly said, 'Thank you, President.'
'Well, it's getting late, everyone go home first,'
Then Brooke Gascoigne walked towards the car at the door. He also had to hurry home, because he hadn't even had a chance to enjoy the grouper he'd caught during the day!
Although he was in a bad mood, it was after all the fruit of his own labour, so he couldn't waste it, could he?
Besides, good food could always cheer him up.
What Brooke Gascoigne didn't expect was that
his idea of enjoying a good meal to cheer himself up would completely fall through.
After he got home, the subordinates from other countries reported one after the other on the phone, driving him to the verge of a nervous breakdown!
The liquidity of the Brazilian branch bank is only 61.42 million US dollars.
The liquidity of the Colombian branch bank is only 46.27 million US dollars.
The liquidity of the Chilean branch bank is only 30.39 million US dollars.
The liquidity of the Peruvian branch bank is only 24.36 million US dollars.
...
The liquidity of the Guyanese branch bank is only 8.52 million US dollars.
After all the statistics are tallied,
the liquidity of the BBVA South American region is a paltry 300 million US dollars!
Compared to the BBVA's total assets of 26 billion US dollars in South America, this is absolutely ridiculous!
There is less than 1.15% in liquid funds, and no one believes that this is the data of a top 100 global international bank.
Even if you add in the 1.5 billion dollars that was transferred from the Spanish headquarters, the liquidity ratio is still less than 7%!
These figures completely took Brooke Gascoigne's appetite away, and with bloodshot eyes, he hurriedly called to ask for more detailed information.
The situation he found out about made him shudder.
Over the past two days, there have been large amounts of capital flowing out of the bank branches in various countries. Apart from a small amount of loans, most of them are large withdrawals.
Although it was not comparable to Coca-Cola's one-time withdrawal request of 520 million US dollars, the frequent withdrawals of 800,000, 3 million, 6 million, and 10 million US dollars each had quickly depleted the funds.
The loss of funds over the past two days was a staggering 4.4 billion US dollars!
The reason why the presidents of the branches in various countries had not discovered it was because the withdrawals did not occur in a concentrated manner in a particular branch, but were distributed among the branches in many cities in various countries, and were also withdrawn by the long-term customers of those branches.
What's more, these customers all said that they were only temporarily using the funds and would transfer them back in the short term.
Since the quarterly meetings were not yet due, the branch managers were not on their guard and naturally did not take the initiative to report the outflow of funds from their branches.
As a result, within just two days, Banco Bilbao Vizcaya Argentaria had lost 4.4 billion in working capital throughout South America, unbeknownst to Brooke Gascoigne.
If it wasn't for the withdrawal request from Coca-Cola, Brooke Gascoigne would never have found out.
No!
Combining the series of actions of Coca-Cola, Brooke Gascoigne felt like he was being wrapped in an impenetrable net.
He was finished!
Something big was about to happen!
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