Jeff Bloom

1st December, 2021

Jeff brings enormous operational and financial clout to IBA through his long-standing expertise in large-scale operational transformations across the banking sector. An acknowledged industry ‘expert’, Jeff is regularly called upon for his smarts across Australian and Asian markets. Jeff’s brilliance was discovered early, when he assumed COO responsibilities for ANZ Qatar at the ripe old age of 28! This was followed by appointments as COO in Vietnam, Taiwan and Singapore. A master at managing complexity and people, Jeff is the consummate leader who is driven to ‘do the right thing by the customer” and a relentless focus on achieving outstanding commercial results. Jeff’s style is characterised by integrity, inclusivity and inquisitiveness and this is reflected in all that he does. A calm and measured manner instils confidence in all, particularly during times of unrelenting pressure. Family and friends are the bedrock of Jeff’s life and he applies the same operational discipline to ensuring they are uppermost and well supported.

What's a
Restricted ADI?

International Bank of Australia is authorised by the Australian Prudential Regulation Authority (APRA) to operate under a Restricted Authorised Deposit-taking Institution licence until 2nd November 2024. Under this authority International Bank of Australia has restrictions on the amount of deposits it can take. Under this restricted licence International Bank of Australia is not required to meet the full ADI prudential framework and will not be offering banking products to the general public.

International Bank of Australia has put in place arrangements to protect customers in the event it is required by APRA to discontinue banking business and exits the banking industry. This includes:

- International Bank of Australia being required by APRA to contact customers to advise how they are impacted, e.g. deposits may be returned or transferred to another bank;
- the Banking Act 1959 provisions for the protection of depositors apply to International Bank of Australia; and
- International Bank of Australia is covered by the Australian Government Financial Claims Scheme (FCS). The FCS applies only to protected accounts. It is important customers check the terms and conditions of their specific product to determine if it is protected under the FCS.

You can read more about how banks are licensed on this page on the APRA website:
Licensing guidelines for authorised deposit-taking institutions | APRA
Please reach out to us if you have further questions.  You can use the ‘Contact Us’ form to ask us any questions you have.

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