Message from our CEO

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Message from our CEO

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Thursday 19th April 2018

Dear all,

Bank of Sydney has delivered an above-budget result for the full year 2017 and is progressing strongly, as evidenced by first-quarter 2018 results.

In the past 12 months to March 2018, our deposits have grown by 14.5%, whereas our home loan book has increased by 29.8%. Our focus on the retail market over the previous two years is paying off, with Bank of Sydney becoming more recognisable outside its traditional core markets and geographies.

In January, we launched our new Chatswood Branch at 420 Victoria Avenue, and in early March we held an extremely successful ceremony attended by customers, friends and local community leaders. The strength of this event matched the performance of the Chatswood Branch, which achieved most of its annual KPIs in the first three months of operation. Our thanks go to all attendees and to everyone who helped make this happen.

Further to winning Money magazine’s Australia’s ‘Best of the Best’ Cheapest Home Loan Package award for the second consecutive year, Bank of Sydney retained its five-star rating for deposits for its Everyday Saver transaction account.

We promised our clients not only value but a different experience, and our awards are testament that both are on track. We will continue to deliver better value to our clients and we will remain competitive across all our products, especially loans and deposits.

In recent months, we have delivered – on time – a number of digital solutions to our clients, including a new electronic banking service and a complete revamp of our credit card system. We engaged closely with our clients during the rollout of these applications, and we very much appreciate the phenomenal support and patience invested in us during this period.

Bank of Sydney is continuing with a number of digital changes and upgrades, which are all enabled by the strength and connectivity of our core system and human resources. We are progressing quickly through the learning curve, and the access and service rewards for our clients are becoming more visible every day.

I want to thank all my colleagues at Bank of Sydney for meeting the challenge of these changes head-on. I would also like to thank our clients for being a core part of our evolving success story.

Miltos Michaelas