Chapter 515: Mutual benefit cooperation (2/2)

Delores underwent an one eighty degree change.

She was confused and even angry at first, but she soon became very passionate.With Delores’ supervision, the elves changed their hesitant style and immediately held the bank opening ceremony in the Eternal Forest.Because there was already coverage in the elven area, there were various advertisements for the Elven Bank which the elves all paid close attention to.

How could they not pay attention to it?

This was a large matter that shook the elves.

It was also a large matter that shook the forest.

Meng Qingwu had people film the entire process because this could become historically significant material for future generations.This allowed the elves that couldn’t come to see a live broadcast of the ceremony through their image transfer mirrors and screens.

Each large City Lord gave a speech.

The Elven Council also approved of this matter.

Finally the Elven King announced the official opening of the bank!

In that moment, all the elves began to celebrate!

The Elven Bank’s establishment was announced in the Eternal Forest, but there were many elven cities and towns that also participated.

The model was basically the same as Miracle Bank.First they would offer interest for deposits and then give out loans with higher interest rates.Although spreading benefits was the major source of income, it wasn’t the only source of income. There was also income from services and intermediate services.Such as off site withdrawal fees, guaranteed loans, leases, pawning, mortgages, and many other services that hadn’t been discovered yet.

After the establishment of the Elven Bank, before their location was set, they announced the interest rates.

The Elven Bank’s interest was much lower than Miracle Bank’s.A year’s interest was a small 2% and yearly interest on monthly deposits was only 3%.For half year deposits, yearly deposits, and even higher, they weren’t even half of that of Miracle Bank’s.

Although it was like this, it was still enough.

Before the Elven Bank was established, a large amount was already deposited.This was the deposit of the elven race, storing five hundred thousand source stones for the Eternal Forest.The other elven cities all stored close to two hundred thousand. In other words, this newly established bank already had over two million in deposits!

This was just the official deposit of the elven race!

Miracle Commerce also worked closely with the Elven Bank.After the Elven Bank was established and cards were made, they could also be used to buy things from Miracle Commerce.This made life much easier and made it much easier to manage items.

The elves were a very united race.

They had absolute trust in the Eternal Forest and the Elven King!

The Elven Bank was the major pivotal change in the elves!

Therefore the elves didn’t hesitate to support it and they wouldn’t suffer a loss, so why wouldn’t they deposit their money?Would the Elven Bank be lacking in deposits? There were over twenty million elves in the Forest of Chaos!

The elves had prestige.

The elves had might.

The Elven Bank had several million in deposits right after being established and it would wildly grow in the future.There was the Eternal Forest and the elven cities guaranteeing it and it was impossible to be swindled with the disposition of the elves.

Would the major forest races be afraid that the elves would cheat them of their money?

The tribes of the forest would certainly run to save money in the Elven Bank one by one!

Miracle City had a strong popularity, but they were weak in the end, how could they compare to the elves?So the Elven Bank smoothly developed and sucked in most of the source stones in the Forest of Chaos!

But a bank couldn’t grow properly with just deposits!

If the bank only has large amounts of deposits and didn’t have any large loan projects, the deposits would in turn become a burden.The revenue and expenditure wouldn’t be able to form a cycle and the interest from the deposited source stones would create losses for the bank.

The problem arrived.

How could the elves have that many projects?

The elves had just started their reform, how could the elves need loans this quickly?Not to mention that with the speed the Elven Bank took in deposits, they couldn’t consume it all with just the elves!

What to do?

They couldn’t keep large amounts of currency in the bank to suffer a loss over the interest!

It was best for the Elven Bank to transfer the large amounts of source stones into Miracle Bank with a seat deadline and interest rate.This kind of deposit would not only reduce the risk for the Elven Bank, Miracle Bank’s interest was even higher than the Elven Bank, so the Elven Bank could earn from this difference!

Miracle Bank’’s situation was turned around by the Elven Bank.

The elves lacked projects, but had plenty of funds and Miracle Commerce had plenty of projects, but lacked the funds.The elves had large rallying power and influence and Miracle Commerce developed slowly because of their lack in strength.Now that it was this way, wouldn’t it be a mutual cooperation?

The Miracle Commerce high level members understood this and finally knew Chu Tian’s goal!

After going around, he was still raising funds for Miracle City!