At that moment, Chen Dong instructed Sim to launch a new move.
When depositors withdraw money from East Asia Bank, the principal portion is paid in rubles.
Interest payments, however, are made in US dollars.
Furthermore, customers who withdraw all their deposits at once can also receive a voucher.
The vouchers can be exchanged for a certain amount of living allowance at East Asia Bank.
The so-called living allowance was simply a 10kg bag of flour and some daily necessities that could be received by presenting a voucher from Dongya Bank.
This was especially moving for the Russian people who were living in dire straits.
Of course, 10kg of flour is nothing to Chen Dong, who has a lot of supplies!
As for mid-to-high-end customers, Chen Dong also used the same method.
East Asia Bank paid interest to depositors after exchanging large amounts of US dollars for rubles.
Meanwhile, on the black market, surplus supplies are sold at higher prices to recoup the money.
The wool comes from the sheep!
at this time.
Western private banks established by Western capital are trying to follow in the footsteps of East Asia Bank too closely.
However, they discovered an embarrassing problem: supplies.
In other words, if they want to emulate Chen Dong's method of using resources to retain customers, they will have to pay a higher price.
Of course, Chen Dong's move was self-destructive, as 90% of the funds came from money he earned from Russia.
Overall, East Asia Bank's foundation was not significantly impacted.
On the contrary, they earned a great reputation.
Chen Dong not only didn't lose much, but Dongya Bank actually made a lot of money from this back and forth.
After this series of actions...
Sim and the others were dumbfounded.
This made it even more difficult for Western private banks established by Western capital to cope.
Because, at this point, they are powerless to stop East Asia Bank's path to immense wealth.
......
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