Arab Bank Australia celebrates 30 years of growth as a family and pillar of community

We are now a well trusted and well regarded brand in Australia – Arab Bank Managing Director Joe Rizk

(Translation of this article appears in Arabic section)

A large gathering of officials, guests, customers and staff turned out to help the Arab Bank celebrate 30 years in Australia at Sydney University. Among the line-up were NSW Premier Mike Baird and wife Keryn; Arab Bank Australia chairman Geoff Wild and wife Barbara;  bank managing director and CEO Joe Rizk and wife Maureen;  NSW Treasurer Gladys Berejiklian;  NSW Minister for Multiculturalism John Ajaka; Hon. Shoaquett Moselmane MLC; Australian Lebanese Chamber of Commerce chairman Joe Khattar and wife Shad and Australian Arab Chamber of Commerce chairman Roland Jabbour.

Excerpt of speech by Joe Rizk

The Arab Bank has played a major role in terms of the lives and activities of our clients and our strong relationships with our service providers.  The bank punches extremely well in terms of its size in the community and we support the health sector.  Our association with Westmead goes back 20 years. I think we have collected well over about $1.2 million that has gone towards research and the hospital.  When you see people walk out of that hospital who were critical, it makes me proud, it makes our staff extremely proud.  

"We are now a well trusted and well regarded brand in Australia" –

Arab Bank Managing Director

We’ve made sure that we contribute towards the arts, literature, education, sports. I think if you can all recall we have been heavily involved in getting members of our community to be involved in those sectors as well. I appreciate those years of making a contribution to this great country.  This country has welcomed a lot of people from all parts of the world and I think we all feel very, very proud and privileged to be in this fabulous country.  A name like Arab Bank was probably a little bit foreign to the market here 30 years ago but we are now a well trusted and well regarded brand in Australia.  We are extremely powerful when it comes to making sure that our people are involved in the community. They maintain strong relationships with our clients and we pride ourselves in terms of those relationships and our ability to communicate with clients.  Accessibility for our clients is paramount so if you are not getting a rapport with us on a regular basis then give me a call.  Because that is what it is all about; it is so important for us to stay in touch with you and to make sure that you are looked after.  I know well the other banks don’t do anywhere near as well as we do.

Our staff, present and past, have made an enormous contribution.  Those that have left us over the years felt like they were leaving a family and the current staff make a huge contribution.  In fact it is a pleasure to work in. It is not just an environment to be there because you have to be there; you be there because you enjoy it. You enjoy the friendship with your colleagues and it is great to see the expressions on their face when they get compliments back from their clients. That happens quite often. 

Excerpt of speech by Geoff Wild

Not one dollar has been repatriated in terms of dividends back to the home country.  All of the profits that have been made in Australia have stayed in Australia and specifically in New South Wales.  We are very proud of that and very pleased, thank you. 

Because what that has done has enabled us to fund our own growth not to depend on the parent and most importantly, as Joe alluded to, it enabled us to put something back into our community.  We’re not a soft touch; we evaluate the approaches for sponsorship and I must say that every dollar we spend we do I think effectively and that is why we continue to do the things that we do in the arts, the medical area and now sport.  I think that is a wonderful thing to be in a position to be able to do and I do hope that we can continue to do that in the time ahead.

Excerpt of speech of NSW Premier Mike Baird

30 years is an incredible achievement; that is a long, long time. Joe Rizk was a banker at National Australia Bank when I was a young analyst. The Rizks just have this DNA;  not only are they great bankers but they are incredible people and Joe is someone who is obviously incredibly well respected in a banking context but I think everyone would agree he is a wonderful person together with Maureen.

"What sets it apart, I think, is that Arab Bank is how much a part of the community it is"

NSW Premier Mike Baird

I don’t know who is responsible for bringing Joe into Arab Bank but what a sensational decision because I know you get two for one with Joe and Maureen. There is no surprise for me that you have seen the growth he had under Joe’s leadership.  What sets it apart, I think, is that Arab Bank is how much a part of the community it is. That is something to be very proud of. 

Regarding investment back into the community; if I am honest in my appraisal of the banking system, I think that is what is missing.  I think there needs to be much more of it and I think Arab Bank stands as a beacon of leadership in this.  Not only we have seen investment in health and medical research but also things like the arts and galleries. 

The community loves to see that. Joe or representatives of the bank are in the community, they are part of the community and they are supporting it.

Excerpt of speech by NSW Treasurer Gladys Berejiklian

I want to say right on the outset that I am a very happy customer of the Arab Bank. I believe the Arab Bank has been successful in Australia because of its people.  You are headed by Joe Rizk and an amazing management team.

"I am very proud to be a customer." NSW Treasurer Gladys Berejiklian

But I also really want to say I had a challenging transaction I had to make; the four majors were not able to help me but the Arab Bank was. I have relatives throughout the Middle East and I was so pleased to sign up and experience the wonderful customer service the bank provides.  I am very proud to be a customer.

I also want to thank everybody in this room who is supporting the Arab Bank for your contribution to the NSW economy.  Because we received formidable news demonstrating that our state economy is growing faster it has grown in 25 years.  We know that 15% of our gross state product comes from financial services.  We know the Arab Bank is a huge part of that.  By supporting phenomenal business people in our state you are supporting the growth of our economy and that is wonderful to know so congratulations and thank you.

I know the bank will continue to grow because you have great people.  It is like a family business because you are such an incredible operating environment and excellent customer service.  As someone who has Armenian heritage but many relatives throughout the Middle East, I know what a significant brand the Arab Bank is. You do yourselves proud globally but most significantly for myself and the premier, you do us proud here in New South Wales.   Keep growing, keep employing, keep supporting businesses that are growing our economy; I look forward to seeing you in the decades ahead as you continue to expand.

Excerpt of John Ajaka’s speech

They say an organisation like the Arab Bank is only as great as its CEO and its managing director. The Arab Bank is an extraordinary institution, organisation, and corporate entity.  I was fortunate when I opened my legal practice about 31 years ago, who should open up next door to me but the Arab Bank. I was next door to you for 20 of those years and I discovered you had a way of assisting your corporate clients to do the right business in Sydney, in NSW, in Australia. 

"The Arab Bank is an extraordinary institution, organisation, and corporate entity."

John Ajaka MLC

You did it because of your honesty, your integrity, but most of all your clear understanding of what corporate clients want; what mums and dads were looking for. That was service.  Fair service at a fair rate and it is for that reason you have continued to grow under the leadership of Geoff and Joe who joined just over 11 years ago. 

I want to take this opportunity to congratulate you on all that you have accomplished from a business perspective but just as importantly as the Minister for Aging and Disability Services. I see first-hand the assistance that the bank provides from a social aspect.  How much you give back to our community in NSW.  How much you give to our seniors to people with disability, to our youth.  I don’t believe there is hardly a function I go to where your bank has not made some contribution to them. For that we are incredibly grateful. 

Excerpts of speech by Raghida Younes

A lot can happen in 30 years - online shopping, Wi-Fi, Google, digital cameras, text messaging, emailing, flat screen TVs. These were all introduced and changed the natural flow of human interaction. Social media exploded onto the scene with Twitter, Instagram, Snap Chat and Facebook.  In 1989 after separating East and West Germany for 28 years the Berlin Wall fell; in 1994 Nelson Mandela became South Africa’s first black President.