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I've heard similar things from other sources. AIUI it's really hard to get a new banking license, both in terms of what you have to do to prove you are followi
by nitrogen 5y ago
I've heard similar things from other sources. AIUI it's really hard to get a new banking license, both in terms of what you have to do to prove you are following regulations, and what you have to do to get the license.
- olau 5y agoIn EU, I think one of the requirements is a minimal capital requirement. I can't remember the exact number, but something like 5 million EUR. I don't think most of the small local banks could have started in the current environment, as I gather many of them were founded on a small community pooling their money to help each other and earn some money in return.