They are, the Royal Bank of Canada, Toronto-Dominion Bank, Scotiabank, Bank of Montreal, and Canadian Imperial Bank of Comrce.
In fact, these five banks are now the largest of Canada’s six major banks... after all, Toronto Bank and TD Bank have not yet rged!
When it cos to the worst performance, it naturally belongs to Toronto Bank and TD Bank.
Morris Wilson asked Donnie: "Mr. Block, if the two of us do not agree to your terms today,
will you invite the presidents of the other banks here tomorrow?"
Donnie nodded without avoiding the topic, even though the Royal Bank of Canada and the Bank of Montreal had previously provided assistance to him.
But now, as it concerns Venus Bank’s layout in Canada, Donnie could not change his plans just for a bit of past sentint.
John Richardson saw Donnie nod and felt a bit dissatisfied, but he suppressed it in his heart.
"We trust the strength of Venus Bank; however, this is Canada after all. Mr. Block, you are so confident that Venus Bank can develop in Canada.
What if we united against you?
How would you face that, Mr. Block?"
Morris Wilson began to show his cards!
Donnie listened, his expression unchanged, still smiling.
"Mr. Wilson, what is more important to Venus Bank, its business in Canada, or your banks’ business in the United States?"
Canada and the United States are neighbors, and trade and finance between the two are very closely linked.
The aforentioned banks all have their businesses in the United States.
Take the Royal Bank of Canada; as early as 1887, the Royal Bank of Canada started to expand its business into the United States.
Now, U.S. business occupies a huge place in Royal Bank’s system.
"Mr. Block, we know that you have a strong influence in the United States, but our partners in the U.S. also have significant influence.
Perhaps your influence in the Federal Reserve does not an much to us?"
Morris Wilson spoke calmly, not worried by Donnie’s threat.
"Mr. Wilson, who is this partner you speak of, is it Chase Bank?"
The Royal Bank of Canada and Chase Bank in the United States have a deep cooperation.
Earlier, they were each other’s agents in the respective countries.
The cooperation is naturally closer now!
Morris Wilson nodded; everyone knew about this, it was no secret!
Donnie smiled: "Mr. Wilson, if your partnership was truly as you said, then why did you not ntion this relationship to Chase Bank when Bruce Currie sought a loan from your bank?"
Back when ABC went public, one of Donnie’s opponents was Junior Rockefeller of the Rockefeller Family.
In fact, Chase Bank was actually controlled by the Rockefeller Family at that ti.
Yet under such circumstances, the Royal Bank of Canada still provided loans to Donnie.
Why did they do so?
Naturally for profit!
The relationship is just a partnership and not the sa entity.
Within a super conglorate, there are power struggles between its various departnts, let alone between two partnered banks.
Morris Wilson said: "That was because I was not the president of the Royal Bank at the ti; if I had been in that position, I would have certainly inford Chase Bank!"
Donnie chuckled: "There’s no point in discussing past events; as to whether or not you would have said sothing, we both know the truth.
The point I truly want to convey to you, Mr. Wilson.
Chase Bank’s internal equity distribution is complex, involving the Rockefeller Family and Morgan, and Morgan has split.
Furthermore, do you think Venus Bank has no shares in Chase Bank?"
There is talk of the five major banks in Canada.
Similarly, there is a group of such super banks in the United States.
Venus Bank, Morgan, llon, Citibank, and Chase are among them.
But how should I put it?
Among these banks, Chase is like a public pool.
Everyone wants to gain control of this bank.
Morgan saw the Rockefeller Family start acquiring shares in Chase and followed suit, aiming to continue restraining the Rockefeller Family’s influence in the financial sector.
However, the Rockefeller Family suddenly shifted their focus to another shareholding bank.
Targeting Citibank!
Moreover, at that ti, Morgan was busy dealing with Roosevelt’s New Deal, having no ti to pay attention to so many matters.
Plus, with Donnie’s cooperation, the Rockefeller Family truly gained control of Citibank.
Instead of rely being the largest shareholder while fighting the managent for control.
With Citibank under their belt, the Rockefeller Family’s interest in Chase Bank waned.
It’s not that the Rockefeller Family doesn’t want to control both of Arica’s major super banks.
But they lack the capability.
Simultaneously, the other banks wouldn’t allow the Rockefeller Family to own both Citibank and Chase Bank!
Thus, under such circumstances, the Rockefeller Family has consciously begun to reduce their holdings in Chase Bank.
But reducing does not an abandoning; what if there’s a chance in the future?
However, the other banks also noticed the Rockefeller Family’s intentions, so they started buying into Chase Bank as well.
At this rate, Chase Bank will sooner or later beco a public company owned by several banks!
Without the backing of a decisive family, Chase Bank’s developnt will only worsen. Of course, given Chase Bank’s size.
Plus, with the Chase Bank managent selling shares.
The ti until it worsens might be quite long!
Donnie’s words made Morris Wilson’s face darken.
As a partner of Chase Bank, and being the first president of the Royal Bank of Canada to assu the position as a banker, naturally, Morris Wilson was aware of these matters.
"Mr. Wilson, Mr. Richardson, let be straightforward with you: you cannot do without the U.S. market, and at the sa ti, you cannot do without other regional markets.
The assistance the Canadian Governnt can provide you is limited.
But I am different; I have the capability to rapidly decrease your business in the U.S. and Cuba!"
The Royal Bank of Canada has two key foreign businesses.
One is, as ntioned earlier, the U.S.
The other is Cuba!
In 1899, the Royal Bank of Canada established its first branch in Cuba.
After forty years of developnt, its business in Cuba has flourished everywhere!
But as Donnie said, their current situation is only possible before a real competitor erges.
Donnie was impressed by a saying.
When individuals are too strong, and the nation too weak, this leads to loss!
The Royal Bank of Canada could not be said to be weak, now ranked as Canada’s number one bank.
Canada isn’t weak, but certainly not strong.
Especially compared to the United States, Canada is indeed weaker!
Donnie’s influence in the U.S. is incomparable to that of the Royal Bank of Canada in Canada!
The national power of Canada and the national power of the U.S. are also incomparable.
So, Donnie confidently told them that if he wanted, he could slowly eliminate all their overseas markets outside Canada!
"Gentlen, my purpose in coming to Canada this ti isn’t to showcase my prowess, but sincerely to seek cooperation with you.
If you’re willing, I will provide so support to your business in the U.S.
But the most important thing is that if the three of us join forces, we can truly control the entire Canadian banking industry."
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