15 November 2024
Australian banks continue to back growth and innovation across the farming sector with agribusiness lending now at record levels, exceeding $131 billion for the first time.
The Australian Banking Association is highlighting the banking sector’s ongoing support for Aussie farmers this National Agriculture Day. Lending to agribusinesses has skyrocketed over the last year, rising 9.4 per cent in the year to September to a record $131 billion.
ABA CEO Anna Bligh said banks would continue to back Australia’s agriculture industry, ensuring that farmers have the financial resources they need to thrive.
“There is no doubt that Aussie farmers are the workhorses of our economy,” Ms Bligh said.
“Australian banks are deeply invested in the success of Australian agribusinesses. Banks will always be there with our farmers during the good times and through the tougher times.
“Whether it be loans for livestock and new machinery or hardship assistance in times of natural disasters, Australian banks will continue to stand side-by-side with our agricultural producers.
“A strong farming sector helps drive Australia’s economic growth. It’s critical that farmers have access to the credit they need to grow and innovate.
“As the farming sector evolves, banks will continue to collaborate with the sector, governments and industry stakeholders to ensure product and service offerings support the needs of Australian agriculture long into the future.”
For more information on lending to Australian Agribusinesses visit: https://www.ausbanking.org.au/insight/lending-to-agribusiness/
Contact: Benn Ayre | [email protected] | 0428 342 325
Twitter | Facebook | LinkedIn | www.ausbanking.org.au
Latest news
Check against delivery Thank you, Chair, and members of the Committee, for the opportunity to appear today. Improving productivity is one of the defining economic challenges facing Australia, and many developed economies. Productivity ultimately determines whether real wages rise, whether Australia remains an attractive place to invest, and whether the next generation is better off… Read more »
Australian banks welcome the release of new Statements of Expectations for APRA and ASIC, which put economic growth, proportionate regulation and cutting unnecessary regulatory burden at the centre of how Australia’s financial regulators operate. ABA CEO Simon Birmingham said the inclusion of growth mandates in these new statements is something the banking industry has consistently… Read more »
E&OEPodcastFear + Greed8 July 2026. Topics: Household ownership of banks; Banking as critical infrastructure Sean Aylmer: Welcome to Fear and Greed Q&A, where we ask and answer questions about business, investing, economics, politics and more. I’m Sean Aylmer. We talk plenty about the banks on this podcast. After all, the big four and Macquarie are… Read more »