Miss Witch, It's Time to Clean Up the Entries - Chapter 21

Under the efforts of the new president Mr. Emran and Minister of Finance Omari Hani, the Green Shade Territory Bank was soon established.

The location chosen was the square building near the clock tower in the inner city, and a branch was also set up in the outer city, proceeding simultaneously on both sides.

Subjects throughout the city were very curious about the bank, but unfortunately, there were very few depositors.

It was against this backdrop that the first shareholder meeting of the Green Shade Territory Bank was convened.

Leon, Omari Hani, Emran, and a group of nobles led by the richest man Romiada gathered in the bank’s conference room.

“The bank was successfully built, which is commendable, but without deposits, we cannot lend money to more people.”

Leon, who urgently needed loans for urban development, said with a serious expression.

“The ignorant commoners don’t understand what a bank is. Even making them open an account at the bank would make their foolish brains dizzy.”

Romiada said.

“Furthermore, they don’t have any money to deposit.”

Another noble showed a mocking smile, and others agreed.

“Yes, they are too poor. Many of them don’t even own property and can only rent apartments with dozens of people in one building.”

“Their monthly income is not even enough for me to eat one pastry, but they only think about enjoying themselves and like to gather together and have parties when they have nothing to do.”

Leon’s mouth twitched slightly. This atmosphere of seeking pleasure in Green Shade Territory probably spread from old Moria.

Both nobles and commoners were addicted to parties and couldn’t free themselves.

However, the outer city branch was not for commoners to deposit money, but for them to learn to take out loans and do business.

The real problem is the inner city bank. You shareholders, don’t you know your place!

“Shareholders, have you forgotten the target audience? The inner city bank is for high-end customers, and the outer city bank is for regular users.”

Leon reminded them.

“High-end customers? Do you mean facing the nobles?”

Romiada asked.

Leon nodded, “Of course. As shareholders, shouldn’t you invest a portion first?”

“I believe it is safer to keep money in the treasury at home.”

A noble proudly raised his head. Even though he was forced to invest money to open the bank and become a shareholder, he didn’t truly endorse the bank’s deposit function. He was afraid that his money would all fall directly into the pocket of this young fox, Leon.

His opinion was supported by many people.

“Karel.”

Leon looked at the Head of Internal Affairs, Karel Dennis. Karel Dennis immediately handed over a file.

“This is the record of household theft cases among Green Shade Territory’s nobles and wealthy merchants over the past 10 years, totaling 312 cases. Especially last year, almost every month, a noble’s treasury was stolen.

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

The nobles and wealthy merchants who were robbed ultimately lost everything and could only consider themselves unlucky.”

Leon took out another record,

“And this is the Imperial Bank’s theft record. From its establishment to today, the theft record is 1, but the robbed customer did not lose any money because the bank compensated him fully.”

“Comparing the two, you should know that depositing money in the bank is safer. After all, no one knows whose noble lord’s house will be the next to be stolen.”

Everyone looked at the records, exchanged glances, and started discussing.

“You mean, if our money is deposited in the bank, even if it is stolen, the bank will compensate us for all losses, is that right?”

Romiada asked.

“Yes, compensation at market value. Not only that, but the money deposited in the bank can also earn interest.”

Leon explained, “That is to say, your money stored in your treasury cannot create any income, but deposited in the bank, it can continuously create income.”

“If you can deposit 1 million gold at an annual interest rate of 2.4%, you can get 24,000 gold in 1 year, and 120,000 gold in 5 years. And you don’t need to think or manage it; you can earn this income by sitting at home. Of course, the interest rates for fixed deposits and current deposits are definitely different. If it is a fixed deposit for 5 years, the Green Shade Territory Bank’s interest rate can be even higher, raising it to 3%. Plus, as shareholders, you should receive better treatment than other investors, so let’s raise it by another 2 points, to 5%.”

“Based on this calculation, a deposit of 1 million gold can earn 250,000 gold after 5 years, an increase of a quarter. Are you tempted?”

The nobles’ eyes lit up upon hearing this. An increase of a quarter of their assets in 5 years! And they didn’t need to manage it at all. If it was stolen, the bank would compensate them one-to-one. Where could they find such a good deal?

Seeing their eager expressions, Leon continued,

“Furthermore, you are also shareholders. Every year, you can receive dividends based on your shares. The better the bank’s performance, the more dividends you receive. I don’t need to explain this further, do I?”

Leon’s implied meaning was that not only should they deposit money themselves, but they should also encourage other nobles to deposit. The more others deposited, the more money they would receive.

They could, of course, understand, and many were already tempted.

Developing them into free salespeople was also one of Leon’s plans.

“Mr. Emran, please inform the shareholders about the bank’s deposit rates.”

Leon smiled at Minister of Finance Omari Hani.

Emran cleared his throat and said seriously,

“Green Shade Territory Bank deposits are divided into current deposits and fixed deposits. Current deposits can be withdrawn at any time and are convenient for emergencies. The interest rate is 2%.

“Fixed deposits are in three tiers: 1 year, 5 years, and 10 years. They can only be withdrawn on the specified date. The interest rates are 2.4%, 3%, and 4.5% respectively.

“Shareholder privilege is an additional 2 points.”

Emran paused and continued,

“What you have heard above are the deposit rules within the first month of Green Shade Territory Bank’s establishment.

“Thereafter, the deposit rate will decrease by 0.1% each month until current deposits stabilize at 1% and fixed deposits stabilize at 1.4%, 2%, and 3.5%. Only then will the interest rates not change.

“The interest on your deposits will be calculated based on the initial interest rate and will not change with fluctuations in the rate.”

After Emran finished speaking, the nobles erupted in fierce discussion.

“Mr. Emran, do you mean that the earlier we deposit, the more interest we receive?”

“That is correct. This news is currently known only to those present. Everyone here is among the first to ‘eat the crab’. By the time the news spreads widely, more than a month will have passed, and even if they deposit into the bank, they will not be able to receive higher interest than you.”

Emran replied.

The nobles instantly felt a sense of superiority. They knew that information sometimes equals money, and this rule was the best embodiment of that.

“Green Shade Territory Bank will assemble an elite legion for protection. The legion members will be selected from Green Shade Territory’s guard army, so everyone can rest assured about security.”

Head of Internal Affairs Karel Dennis added.

“Finally, nobles who deposit over 100,000 gold will have one opportunity to invite me to their home as a guest.”

Leon said with a smile.

The nobles immediately realized that he might choose a fiancée whose status matched his from among the wealthy.

If they became in-laws with the new Lord, their privileges in Green Shade Territory would only increase from then on.

At this point, the nobles had no more doubts. The conservative nobles planned to invest 10% of their assets to test the waters. The moderate nobles planned to deposit 50% of their gold treasury into the bank, while the radicals planned to invest 100% and invite friends and family to be among the first to “eat the crab”.