Dear Valued Customer,

The 2010 year has begun very positively for Arab Bank Australia, and the economy at large.

Our prudent management practices have ensured the Bank has emerged from the recent economic slowdown better and stronger than ever. More importantly, the confidence our customers and community has in the Bank has allowed us to enjoy a very solid start to the year.

One key indicator of this confidence is the highly successful Long Term Paper Issuance program recently issued by the Bank, which raised over $200 million in 3 year deposits, and was over-subscribed by an unprecedented 50 percent. This very public display of support for the Bank rests on our strong balance sheet and the balance sheet of our parent Arab Bank plc.

The recently published Arab Bank Australia Limited 2009 Annual Report features images of some of our industry specialists. Many of our customers will already be familiar with these faces. They represent part of the Bank’s key strengths in the areas of Construction and Property Development, Health, Home Lending, Self Managed Superannuation, Small Business, Migrant Banking and International Trade. These business lines have long been the Bank’s core strength and our experienced and motivated team will ensure we continue to provide superior service and better understanding to customers involved in any of these business lines.

We continue to bolster our long term commitment to supporting the general community through sponsorship of the arts, and our continued financial donation to life saving medical research. This year, we are proud to announce our new association with the Art Gallery of NSW and as the single sponsor of the popular ‘Learning Curve’ series of lectures and sponsorship of the Pacific Opera group’s major performance of 2010, Hansel & Gretel by Engelbert Humperdinck.

 
As we continue to build on our fifteen years of service to the Australian community, we also at this time celebrate the 80^th anniversary of the Arab Bank Group. It is appropriate to reflect on the strength and success of Arab Bank in reaching this significant milestone and to highlight that the success of the Bank in Australia today is a reflection of the stability, prudence and wisdom of our Parent, who continues to wholeheartedly support our operations.

As always, we are committed to improve in any way we can, so please continue to provide us your feedback, and don’t hesitate to talk to us about any of your financial goals or requirements.

Sincerely,

James Wakim
Managing Director