2 April 2025
Banks stand ready to support customers in western Queensland and parts of New South Wales affected by heavy rainfall and flooding.
ABA CEO Anna Bligh said customers don’t have to tough it out on their own and banks have a range of practical measures to assist those facing financial stress.
“This is a challenging time for many communities impacted by heavy rainfall and flooding,” Ms Bligh said.
“Banks recognise the financial and emotional stress of extreme weather events, and they are here to help customers and communities navigate through these uncertain times.
“I urge customers who are facing financial difficulty as a result of these floods to reach out to their bank as soon as possible to discuss the support options that are available.
“Our banks have highly experienced specialist teams ready to assist with any financial concerns or enquiries customers may have.
“It doesn’t matter if you’re an individual, a farmer or a business customer, banks have a range of options from repayment deferrals through to loan restructuring to help you get back on your feet.”
Depending on individual circumstances, banks may be able to assist with:
- customised arrangements or deferrals of upcoming credit card payments or loan repayments
- temporary overdrafts or emergency credit limit increases
- restructuring of existing loans
- waiving or refunding fees and charges
- offering additional finance to help cover cash flow shortages.
The ABA is also reminding customers to be vigilant for scammers that may try to take advantage of people who have been impacted by the flooding.
For more information on Natural Disaster Assistance visit: https://www.ausbanking.org.au/natural-disaster-assistance/
Latest news
The ABA welcomes APRA’s proposals to make the internal ratings-based (IRB) accreditation process simpler and more transparent, giving mid-sized banks a competitive boost. ABA CEO Simon Birmingham said the changes would support competition and deliver better outcomes for customers. “This is a practical and sensible pro‑competition step from APRA,” Mr Birmingham said. “When fully implemented,… Read more »
E&OEInterview on Sky News with Cheng Lei Cheng Lei: Australian banks closed 155 branches over the last year, but the rate of closures has slowed. For the implications, let’s bring in Australian Banking Association Chief Executive and former Liberal Minister Simon Birmingham. Mr Birmingham, welcome to the show – great to talk to you in… Read more »
Australian banks welcome the Federal Government’s release of an updated Regulatory Initiatives Grid, helping to ensure there is more transparency and coordination when new financial rules are introduced. The ABA particularly welcomes new principles that streamline coordination between regulators, reducing duplication and regulatory burden across the industry. ABA CEO Simon Birmingham said the Grid was… Read more »