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Welcome to the Galactic News Service
Loronar Corporation acquires Bank of the Core
Posted by: Xior Sorath, Bank of the Core
Date: Year 20 Day 84 From the Conference Centre Core Headquarters in Loronar Campus on Mondress (-114, 180).

CORE HEADQUARTERS, LORONAR CAMPUS -- The Corporate Board of the Loronar Corporation has approved a takeover deal with the Bank of the Core, one of the Galaxy’s most prestigious banking and financial institutions. The agreement, the details of which remain confidential, comes into effect at midnight Galactic Standard Time.

President Thrane Blis, CEO of the Loronar Corporation, welcomed news of the deal, and announced that the Loronar Corporation’s Executive Vice President, Xior Sorath, had been asked by the Corporate Board to take an additional position as the Bank of the Core’s Chairman and CEO.

“I am honoured and grateful to the Corporate Board for the opportunity to lead this exceptional organization of creative, dedicated and talented professionals during the transition process,” Mr Sorath said. “It is my intention to significantly broaden the Bank’s client base, providing tailored products and services carefully designed to meet the needs of a range of individuals, unincorporated groups, established organisations, and those with a high net worth.”

The new chairman went on to announce a major revision to the organisation’s Banking Code and changes to the bank’s structure and key personnel.

 

Xior Sorath, the Bank of the Core's new chairman, spoke to reporters at a press conference earlier today.

Xior Sorath, the Bank of the Core's new chairman, spoke to reporters at a press conference earlier today.

The Bank of the Core has existed for thousands of years, specialising in a wide array of financial services including personal and corporate banking, central bank operations, currency minting and more. The bank is well known for its secrecy, offering clients a unique numbered account system which allows anonymous payments to be made, and a proxy trading service allowing clients to buy or sell products and services through the bank.

The lengths to which the Bank of the Core has gone to protect the privacy of its clients have proved controversial in the past. Rumours uncovered by Brentaal Trade News several years ago suggest that the bank’s data vaults were relocated to a site somewhere in the Unknown Regions. If true, this puts the data beyond the jurisdiction of the galaxy’s numerous tax authorities. Some have claimed that various governments, intelligence organisations and other groups have regularly used the bank’s strict secrecy code to support their operations. The bank has repeatedly refused to comment on such ‘baseless rumours’, stating that it is fully legally compliant in all jursidictions in which it operates. Chairman Sorath confirmed that the bank will remain studiously neutral in galactic affairs.

“I am pleased to leave the bank in such capable hands,” said outgoing chairman Morr Myako. “The Loronar Corporation has a proud history and a bright future ahead, and I have no doubt that the bank with flourish under new leadership.”

A spokesbeing for the Loronar Corporation announced that full details of the Bank of the Core’s products and services can be found on the Corporation’s holosite.


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