Dear Valued Customer,

2010 marks a significant milestone in the history of Arab Bank Australia, for it marks the fifteenth year that we have served the Australian community. It was late in 1994 when the Reserve Bank of Australia granted us a full banking license, opening the way for one of the world’s strongest and most successful banking groups to introduce superior service and greater competition to the Australian market.

As always, the key beneficiaries have been our customers, without whom we could not have achieved the success and growth we have for the past decade and a half. We are always thankful for your continued support, and humbled by the opportunity to provide you with award winning savings accounts, home loans, and a range of other consumer, business and trade products and services. We appreciate the choice available in the market place, but are encouraged that our loyal customers continue to enthusiastically embrace us, and recommend our products to their friends and family.

May I take this opportunity to thank you once again for your ongoing support. We don’t take your belief in us for granted, and as such, we have committed additional resources into enhancing our products, and improving our distribution capabilities. We have already taken great steps forward in this regard, with the installation of new ATMs in western Sydney, CBD and Central Coast. We will also maintain our ongoing desire to improve our service levels to even greater heights, through increased training and education of our frontline staff and relationship managers.

Despite the continued uncertainty with respect to interest rates and economic growth for most of the preceding twelve months, our products have remained highly competitive, and will continue to do so. Naturally, we were proud of our achievement to have our Online Savings Account named Best Savings Product in the 2010 Money Magazine “Best of the Best” awards, beating all other banks in the process. This recognition adds further substance to our long term promise to deliver excellence in selected products.

We are optimistic about the year ahead. We’re confident that we can continue to help new home buyers realise the dream; investors achieve their goals; and businesses grow from strength to strength. Our team is ready to serve you. As always,  I am eager to hear your feedback, and hope we can find new ways of understanding you better.

Sincerely,

James Wakim
Managing Director