A half year update from our CEO

Dear All,

I hope you’re all keeping safe and well in what’s continued to be a period of significant change. As we are now at the halfway point of 2022, I wanted to take this opportunity to share a few thoughts on the year so far, keep you updated with developments at the bank, and remind you that we’re with you through all of this change.

Our collective response to Covid continues to evolve as we take a cautious yet balanced approach to reinvigorating our lives, workplaces, businesses and economy. The year has unfortunately seen some extreme weather events, including flooding across New South Wales and Queensland. We have a new government and Prime Minister to lead the national agenda for domestic and global challenges. And we’re also now contending with rising inflation and rates, putting financial pressures on businesses, households and individuals.

With all of these very real pressures in mind, it is of course more important now than ever that we continue adapting to support our customers, our people and our communities.

We have the right strategy.

Our Board of Directors and Shareholders are confident with our strategic approach. It’s successfully maintained integrity within the current climate, and enabled us to drive business growth whilst supporting our people, customers and communities. We’ll continue to focus on delivering and enhancing our four strategic pillars of Customer Experience, Business Growth, People and Operational Performance. The pillars have attracted significant investment and support from our people and partners, who have delivered strong capability, infrastructure and systems to build strength in our brand, and business as a result.

Simplifying our business to support our sustainable growth.

We’ve continued to simplify and improve our business, driving efficiencies for our staff and providing strong personal service to our customers. We’ve strengthened our IT infrastructure through our Tech Uplift initiative. And we’ve simplified our processes and operations to deliver enhanced customer service experiences across all physical and digital platforms. We’ll leverage these investments further throughout the year and beyond, to drive sustainable growth.

Our Lending Platform project is currently progressing and we’ll continue to see the benefits via our SLAs and credit processing times over the coming months. Despite this, we know that applying for loans can be complicated so, as always, we’ll provide our customers with personal support.

Keeping it personal.

The strong, genuine connections we have with our customers are important to us. As a business, we remain focused on the outstanding personal service we’re known for, via our incredible frontline teams. Our people make regular and proactive contact with their customers to assist them in dealing with changes to their circumstances and providing support where required.

Supporting our communities.

It is with great pleasure that we continue to support a number of local initiatives and charities. We’ve also relaunched our annual Grant for Good – an annual $20k community grant to provide help to projects and organisations that promote social inclusion activities, health and wellbeing, sports and other fields that benefit our communities. Applications for the grant have now closed for 2022 and are currently under review, with the winner to be announced in September. Our 2021 winner, Variety: The Children’s Charity are also due to receive the adaptive tricycles shortly, following a number of delays in manufacturing and shipping as a result of Covid.

Later in the year we’ll continue to support Sydney FC as their Major Banking Partner, both on and off the field. We’ll be cheering them on from the sidelines for the upcoming season ahead!  

Keep in touch.

At Bank of Sydney, we understand that this is quite a difficult time for many. And as always, we’re here to support and serve our people, customers and communities where we can. 

Our friendly branch teams will continue to provide the same exceptional service. However, as our branch opening hours and services are subject to change it is important our customers check our contact us page before visiting us in person. We can also be reached via Internet Banking or by calling us on 13 95 00 (Mon-Fri, 9am-5pm AEST).

Finally, a huge thanks to all of our people at Bank of Sydney for their exceptional support and commitment. You are what makes us so special. Thank you!    

Miltos Michaelas
Chief Executive Officer


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