Treasure hunt begins in England

Chapter 629 Banks and the Philippines
The banking industry in the United States is very developed. In addition to the three super banks (JPMorgan Chase, Bank of America and Wells Fargo), small and medium-sized banks are also an active force in the US capital market.

Among the more than 8000 banks guaranteed by the FDIC, only over 400 large banks rank among the top 100 in the global banking industry, and most of the rest are small banks.

With their innovative and flexible advantages, these small banks are often able to accurately find the target market and survive firmly in the cracks of the giants.

However, as a small bank, it also has its own weaknesses, the most fatal of which is not enough capital, so once there is any problem, it is easy to break the chain of funds and disappear completely.

This is the case with the bank that Elizabeth Bathory acquired this time. Failure to pay back an important loan caused a chain reaction, and they had no choice but to be acquired in the end.

"This kind of small bank is indeed less resistant to risks, but if it is embedded in our entire industry, it can just make up for our current shortcomings." Seeing that Liang En shifted his focus, Elizabeth quickly explained.

"Moreover, this bank has only four business offices and more than 30 employees. The internal relationship is simple, and it will be relatively easy to sort out the situation inside."

"Indeed, sometimes personnel issues can be a big problem." Liang En nodded and said, "However, even if such a small bank in Rhode Island is straightened out, it should be difficult to develop. It is too much for an investment bank purely for business integration. It's extravagant."

"You are right, my lord." Elizabeth Bathory nodded and said. "But the biggest reason why I am willing to choose this bank is that this bank has a relatively long history, so it has some valuable documents."

"For example, the bank has two overseas access documents, one for Cuba and the other for the Philippines. The Cuban one was invalidated in the 50s, but the Philippine one is still valid."

The Philippines and Cuba used to be the most important vassal states of the United States, so at that time American banks could easily obtain access permits in those countries, and there was no difference compared to opening a bank in the United States.

"These documents sound very valuable." Liang En frowned when he heard this. "But how did the banks get to where they are if they have this thing?"

It is a very valuable thing to be accepted by other countries. After all, countries are unlikely to completely liberalize their finances, so this kind of access card is very valuable, and it will make people go bankrupt with the access card. People feel a little weird.

"This is mainly because the Philippines is no longer a colony of the United States." Elizabeth Bathory shrugged helplessly and said, "So although the other party still retains these licenses, they have imposed various restrictions. "

"Unfortunately, for the vast majority of U.S. banks, they simply don't want to invest overseas under such restrictions, so many banks will not invest even if they are eligible."

"The problem of the bank we are acquiring now is more realistic. They can't even operate their own local banks, let alone set up overseas branches or invest overseas."

"It sounds like you plan to open a branch in the Philippines." Liang En asked curiously after hearing what Elizabeth said. "If we open a branch, can we guarantee a profit?"

"Yes, but the profit may be very meager at the beginning." Elizabeth said here and looked at Liang En with a smile. "This is thanks to the foundation you laid before, my lord."

"What do you mean by the foundation I laid?" After being praised by Elizabeth, Liang En was obviously confused, because he couldn't remember what he had done in the Philippines before to receive such praise.

"It's your plantation and your factory." Elizabeth said with wide-eyed eyes, "I remember that you have a large plantation and the largest local factory there, which solved the employment problem of at least 3000 local people, so I It would be a good idea to open a branch there to do microfinance."

"Has it developed so fast over there?" Liang En showed a surprised expression, because before he was purely stocking the business there, not only did he not draw money from this place, but also invested more than 40 yuan in it. million euros.

Of course, the investment of these funds has also played a lot of roles. For example, the area of ​​his plantation has become eight times the original size, and two processing plants related to Manila hemp have been built at the same time.

Of course, these two factories didn't cost him much, because Huaxia was transferring outdated production capacity, so Liang En got some very cost-effective equipment from Huaxia through his own relationship.

In addition, he also rebuilt the water conservancy and built a small hydropower station, and used his connections to find several doctors and teachers as volunteers to build a simple school and health center there.

These things were easy for Liang En, and many things could be resolved with just a few phone calls, so Liang En naturally didn't take this matter very seriously.

After all, this money is not considered a particularly large sum of money to him at all, so he just regards it as a long-term stable low-profit investment.

But he didn't know that the money almost brought earth-shaking changes to the local area. He at least helped more than 300 people get rid of the abject poverty in the past, and brought benefits to tens of thousands of local people.

This is why Elizabeth Bathory was pleasantly surprised when she went to the Philippines for on-the-spot investigation, because the locals generally had very good reviews of Liang En, which naturally paved the way for the next step.

"Our next plan is actually a perfect win-win plan." Elizabeth said as she took out her mobile phone. "We can provide small loans to local people by opening a branch there."

"This kind of loan will obviously promote the development of the local economy, help the local people get rid of poverty, and at the same time bring us a long-term and stable source of income."

"Yes, this is indeed a good idea." Liang En nodded. Helping those poor people in the local area, especially the poor Chinese made him feel fulfilled, not to mention that it would bring him long-term income.

Joan of Arc also nodded earnestly beside her, with a satisfied expression on her face. For her, an industry that can help others is much better than an industry that can make a lot of money alone.

"The only question is, have you found someone who can assume the position of head of the Philippine branch?" Joan of Arc looked at Elizabeth and asked seriously at this time.

"You have to know that this kind of almost independent organization generally needs a reliable and capable person in charge, otherwise a good thing will completely turn into a bad thing."

"Don't worry, I've already chosen the manpower." Elizabeth smiled and said proudly. "During this period of time, I have known a lot of people and selected enough reliable people from them."

"That's good, I still approve of your vision in judging people." Jeanne nodded and said in satisfaction. "I hope everything goes well in the future."

(End of this chapter)