Bulgarian Empire

Chapter 110: Restructuring of Banks

Vibert and his wife are among the faster responders, ready to buy the treasury bonds as soon as they are issued, and many more have chosen to wait and see.

In general, the middle class is the vanguard of the purchase. One can not help that the financial market in Bulgaria is so conservative?

There is no way to play even stocks, and most people find it hard to find other investment channels besides the bank, so you can't speculate in real estate, right? In Bulgaria, in this era, you'll lose money to speculate on real estate! Buying treasury bonds to invest in is not a surprise.

Nikolai found it very strange that Royal Bank and United Bank are doing very well, but the Bulgarian National Bank is untouched.

It can not be. Although he is prepared to compete with the Royal Bank and Union Bank, and for this reason also spared his face on the sale of treasury bonds, they have to tie the three together, but the gap can not be so large, right?

Nikolai secretly thought: "Must think of a way, or the gap behind so big, it will let the government think that the national bank is purposely tearing down the stage, not to cooperate with the sale of treasury bonds!!! When the time comes, there will certainly be a major overhaul of the national bank..."

Nikolai's political sense is still very sharp. In the moment of life and death, he decisively chose to convene a high-level meeting to figure out how to do it!

"Aren't you all usually very competent? What are you doing now? Look at your performance on the sale of treasury bonds, and then look at the performance of others!

Last week, the Royal Bank sold more than 13 million Leva. Even after deducting the 5 million Leva purchased by our monarch, there are still more than 8 million; the United Bulgarian Bank also sold more than 12 million Leva.

And look at us? I'm embarrassed to say it out loud. My face is scared! Eight hundred and eighty-eight thousand eight hundred and eighty-eight Leva, a very ominous number! It's a pity that it's not enough for a fraction of what others have, or at least you can give me another eight!

The reputation that the national bank has built up for so many years has been lost by you all at once! All of you will summarize the reasons and quickly come up with a solution for me. I don't want to surpass others. At least we can't be too far behind!!!"

There was silence at the base, and at this moment, even those who usually do not deal with Nikolai did not dare to speak easily! They were stunned by the National Bank's poor performance in selling treasury bonds.

If there is no contrast between the Royal Bank and the United Bank, it would be okay to find excuses. Now there is no need to explain anything. Everything that happened shows - their incompetence!

...

In fact, the 'excellent' performance of the National Bank has attracted Ferdinand's attention. He had not seen such a bad! At least it is still a state-owned bank. It has deep roots, and it does not matter if two upstarts overtake it in the sale of government bonds. They are open!

It is not even a fraction of others so far with so many quality resources. It is too much! What is ridiculous is that no effective measures have been taken after such a long time!

Ferdinand ignored the measures taken by Nikolai. The point is that he has long regarded the Bulgarian National Bank with dissatisfaction!!!

As the only state-owned bank in Bulgaria, it has not even understood its main responsibilities! Profit or not, Ferdinand can not care, but it is always necessary for them to go with the state's policy, right?

Since there is no government policy, it should be profitable to operate purely commercially, right? If annual profits of several hundred thousand Leva are counted, it's barely profitable!

However, think about the government's annual hundreds of millions of money. A big interest has not been given. At the same time, the government also exempted it from taxes and attached many privileges. Ferdinand would like to kick it out right away!

...

At a regular meeting of the top government in November, Ferdinand threw the question out there.

Ferdinand: "Prime Minister, what is your cabinet going to do about the mess at the Bulgarian National Bank?"

After hearing Ferdinand's words, Konstantin immediately understood that since the boss has been defined as a 'mess', it is to be dealt with seriously!

Konstantin was not impressed with the National Bank either, especially with the Treasury bond sales, which were a slap in the face of the government!!! If the other two banks hadn't performed well, he wouldn't have known how to end it?

After sorting out his thoughts, Konstantin said seriously: "Your Highness, the Bulgarian National Bank has a long history of problems, a chaotic management system, and severe internal problems that have rotted to the roots!

If we take, for example, the recent sale of treasury bonds, which the three major Bulgarian domestic banks undertook simultaneously, we can compare, as of now, more than half a month has passed.

The sales channel of treasury bonds of the Royal Bank was 18.75 million Leva; the sales of treasury bonds of the United Bank was 19.68 million Leva; the sales of treasury bonds of the National Bank day 3.56 million!

From the above data, we can see severe problems with the National Bank, and it has become imperative to restructure the National Bank!!!"

When they heard Konstantin's words, the crowd was slightly surprised. The sale of treasury bonds went very well. If not for the National Bank dragging its feet, perhaps the first batch of treasury bonds would have been sold out by now!

The issue of restructuring the National Bank, the ones who are present did not oppose. They are all the ones Ferdinand promoted at the back. The chain of interests in the National Bank has little to do with them. Naturally, they are not guilty of voicing their disapproval.

The anti-corruption chief, Boris Christoff, can't sit still. They haven't had a chance to make a big move since the big anti-corruption fight a few years ago. After all, stability trumps everything during development!

There is an opportunity now, how bad the Bulgarian National Bank, besides themselves, is Boris is the most informed, one can say that one can casually find out a lot of problems too.

"Your Highness, the records of the Bulgarian National Bank may have serious problems, I suggest that along with the banks that are being restructured, we also send a task force to verify them!!!" Boris said with a serious face.

Listening to Boris' words, the others looked at each other with complicated expressions, and the anti-corruption bureau crowd was respectful and deterred. There was no sword above its head, which he could cut down at any time. And the anti-corruption bureau's status is supreme, nominally led by the government. In fact, it was directly under Ferdinand's authority, as He did not even pay the Prime Minister's bill to Boris!

Ferdinand is delighted for his little one to cooperate and sternly says, "Check for me! This time, Boris, your anti-corruption bureau should investigate the end. I don't care how many people are involved, how many big shots, catch one and count one, no mercy! If someone dares to intervene, they will be arrested first!"

After saying that, Ferdinand also glanced at the people sitting in the crowd, which looked very angry. In fact, Ferdinand's heart was happy. Someone is sent to the door when the government is short of money. No wonder the ancient emperors like to keep a few corrupt officials because it is simply a great tool to solve the financial crisis!

...