The financial industry in the Philippines is relatively developed compared to the overall level of the country, even somewhat overdeveloped, as the financial market here is open not only to local financial institutions but also to major overseas institutions.
However, there is a characteristic shared by either Filipino or other countries' financial institutions, which is that they basically only focus on cities and not on rural areas.
Therefore, Leonard Ethan and his team decided to set up a bank in this area after careful consideration, and at least from the current investigation, it seems that there won't be significant problems in operating it.
More importantly, this type of small loan targeting ordinary people will also be considered as a charitable act, so there are considerable tax benefits.
