Miss Witch, it's time to clean up the entries

Chapter 21 The First Group of People to Eat Crabs
Green Neck Bank was quickly established thanks to the efforts of its new president, Mr. Emraan, and Finance Minister Omari Hani.

The address chosen was a square building near the clock tower in the inner city, and branch points were set up in the outer city, with work carried out simultaneously on both sides.

Citizens throughout the city are very curious about banks, but unfortunately, there are only a few depositors.

It was against this background that the first shareholders' meeting of Green Shade Bank was held.

Li En, Omari Hani, Emraan and a group of nobles led by the richest man Romyada gathered in the bank's conference room.

"It's commendable that the bank was successfully established, but without deposits, we can't lend money to more people."

Li En, who urgently needs loans for urban development, said with a serious expression.

"The ignorant common people have no idea what a bank is. Asking them to open a bank account would make their stupid brains dizzy."

Romyada said.

“Besides, they don’t have any money to save.”

Another noble gave a mocking smile, and the others echoed it.

"Yes, they are so poor that many of them don't even own property and can only rent apartments with dozens of other people."

"Their monthly income is not even enough for me to eat a snack once, but they only care about having fun and like to get together and have parties whenever they have nothing to do."

Li En's mouth twitched. The hedonistic culture in Green Shade Territory probably spread from old Moria.

No matter they were nobles or commoners, they were all addicted to parties.

However, the outer city branch is not for civilians to save money, but to let them learn how to take out loans to do business.

The real problem is Inner City Bank. You shareholders have no idea what’s going on!

"Dear shareholders, have you forgotten your positioning? Inner City Bank caters to high-end customers, while Outer City Bank caters to ordinary users."

Li En reminded.

"High-end users? You mean the nobility?"

Romyada asked.

Li En nodded. "Of course, as shareholders, shouldn't you invest a portion first?"

"I think it's safer to keep your money in a vault at home."

A nobleman raised his head proudly. Even though he was forced to invest money to open a bank and became a shareholder, he did not truly recognize the bank's function of saving money. He was afraid that all his money would fall directly into the pocket of Li En, the young fox.

His views were also shared by many people.

"Karel."

Li En looked at Interior Minister Karel Dennis, who immediately handed over a file.

"These are the 10 cases of thefts from the homes of the nobles and wealthy businessmen in Green Shade Territory over the past 312 years. Especially last year, almost every month, a noble's treasure house would be stolen.

Thieves and robbers are much smarter than you think. Even if they are eventually caught, the stolen money cannot be recovered.

The nobles and wealthy merchants who were robbed ended up with nothing, and could only blame themselves for their bad luck.

Li En took out another record.
"This is the theft record of the Imperial Bank. From its inception to today, the number of thefts is 1. However, the customer who was robbed did not lose any money because the bank compensated him for everything."

"Comparing the two, you should know that it is safer to deposit your money in a bank. After all, no one knows in which noble's house the next stolen treasure will appear."

Everyone looked at the record, looked at each other, and started discussing.

"You mean, if we deposit our money in a bank, even if it's stolen, the bank will compensate us for all the damages, right?"

Romyada asked. "Yes, we'll pay you the price, and not only that, you'll get interest on the money you deposit in the bank."

Li En explained, "That is to say, if your money is kept in your vault, it cannot generate any income, but if it is deposited in the bank, it can generate income continuously."

"If you can put up one million gold at an annual interest rate of 100% for one year, you'll get 2.4 gold. In five years, you'll get 1 gold. And you don't have to think about it or manage it; you can just sit at home and enjoy this income. Of course, the interest rates for fixed deposits and demand deposits are definitely different. If you keep it for five years, Green Shade Bank's interest rate will be even higher, raising it to 24000%. Plus, as shareholders, you should enjoy better treatment than other investors, so we'll increase it by another two percentage points, bringing it to 5%."

"So, if you have a deposit of 100 million gold, you can get 5 gold in 25 years, which is a quarter increase. Isn't it exciting?"

The nobles' eyes lit up when they heard this. In just five years, their wealth would increase by a quarter! And they didn't have to manage it themselves. If anything was stolen, they could get a one-to-one compensation from the bank. Where else could they find such a good deal?

Looking at their agitated expressions, Li En continued,

"In addition, you are shareholders and receive dividends based on your shareholding every year. The better the bank's performance, the more dividends you receive. I don't need to explain this further, right?"

What Li En meant was that they should not only save money themselves, but also encourage other nobles to save money as well. The more others save, the more money they will get.

Of course they can understand, and many of them are already interested.

Developing them into free salesmen is also one of Li En’s plans.

"Mr. Emlang, please explain the bank's deposit interest rates to all shareholders."

Li En looked at Finance Minister Omari Haney with a smile.

Emran coughed twice and said seriously,

"Green Shade Bank's deposits are divided into demand deposits and time deposits. Demand deposits can be withdrawn at any time, which is convenient for you to use in emergencies at any time. The deposit interest rate is 2%.

“定期存款则是按照1年、5年、10年三个档，到规定日期才能取走，存款利率分别为2.4%、3%、4.5%。

"Shareholder privileges can be increased by 2 points."

Emron paused and continued,
"What you have heard above is the deposit rules of Green Shade Bank within one month of its establishment.

"Thereafter, the deposit interest rate will be reduced by 0.1% each month until demand deposits stabilize at 1% and time deposits stabilize at 1.4%, 2%, and 3.5%. The interest rate will remain unchanged.

"The interest on your deposits will be calculated based on the initial interest rate and will not change based on interest rate fluctuations."

After Emron finished speaking, the nobles erupted into a heated discussion.

"Mr. Emron, do you mean that the earlier you deposit, the more interest you get?"

"It's like this. Right now, only those present here know this news. You're the first group to get a taste of it. By the time the news spreads, it will have been over a month. Even if they deposit money into the bank, they won't be able to get a higher interest rate than you."

Emraan replied.

The nobles instantly felt a sense of superiority. They knew that information was sometimes equivalent to money, and this rule was the best way to reflect it.

"The Green Shade Bank will form an elite corps for protection. The corps members will be selected from the Green Shade Guards. Everyone can rest assured of its safety."

Interior Minister Karel Dennis added.

"Finally, nobles with a deposit of over 10 gold will have the opportunity to invite me to their home."

Li En said with a smile.

The nobles immediately realized that he might choose a fiancée from among the wealthy who was worthy of his status.

If you become the in-law of the new lord, you will have more and more privileges in the Green Shade Territory in the future.

Now, the nobles no longer had any doubts. The conservative nobles planned to take out 10% of their assets to test the waters, the moderate nobles planned to take out 50% of their treasury deposits and put them in banks, and the radicals planned to invest % in it and invite their relatives and friends to be the first to try it out.

(End of this chapter)