Exec Order
Caldari
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Posted - 2008.11.20 02:46:00 -
[1]
The Dynasty Bank Board of Directors is continuously monitoring the bankĘs liquidity and profitability and how that relates to the interest rates that we are able to extend to our customers. Our current rates were originally designed to attract new customers with higher rates given that the bank was started from scratch and needed to provide an ample risk/reward ratio as we work to build a strong reputation. We recognize that it will become increasingly difficult to maintain a top interest rate of 10%, and as Lexander mentioned, we have developed a plan to address rates and offerings as needed.
Frankly, one of the very first things I asked Manalapan and Iknota when I was considering joining the Dynasty Board was how long the Bank could manage to offer such high relative rates. I had noticed that a 10% monthly return was about the best thing going in MD, and in my view generally represented higher risk investments. I felt that the Bank already had a strong enough reputation that it could lower rates without taking a substantial hit to deposit growth. The response that I received played a large part in my final decision to join them. I was basically told that while bank profits were important to maintain overall bank stability and that rates would be adjusted as required in the future to that end, they wanted to provide as high a rate as is responsibly possible to reward customers for helping the Bank grow.
Speaking strictly for myself, I also chose to get involved with Dynasty Bank, because I felt that it provided a unique opportunity to engage in a whole different aspect of Eve. The MD/IPO/Investment portion of this community can add an exciting dynamic, and I am proud to be part of strengthening that aspect through helping to build an institution dedicated to expanding the community. Certainly I recognize EBANK as the big player, but for this community to truly thrive there needs to be more than one or two primary organizations. I think EBANK recognizes that as well, and I would like to thank them for the assistance that they have provided to Dynasty largely through advice and constructive criticism.
To the original topic of this post, of course there are no guarantees in life, but I can tell you that I am part of Dynasty Bank because I believe that we are here to stay. I am committed, as are our other board members and staff, to providing a friendly and reliable financial services partner to our clients. We are continuing to work to add new services, and have development plans that stretch out many months from now. If we were simply out to collect as much ISK from other players as possible, we wouldnĘt have a limit on the amount that people can deposit each month. That limitation places a serious restriction on our potential growth, but helps us to ensure that we are able to responsibly manage that growth.
We will certainly be required to adjust our rates from time to time in reflection of the markets and also to ensure our number one goal of providing a safe place for people to leverage their reserve ISK, but ultimately your question can only be answered by the passage of time. We have over 8 months under our belt now. If you are not ready to trust us with you hard earned ISK yet, then check back with us in 2, 4, or 8 more months. We plan to still be here, and hope to someday also be your Financial Partner.
Exec Order
Dynasty Bank Director
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