Get more information on how banks can help you.
8 May 2020
New figures released today show Australia’s banks have deferred an extra 100,000 loans, including approximately 50,000 home loans, over the last week to help customers through the COVID-19 pandemic.
The total number of loans deferred is now at least 643,000.
This new data released today shows the total value of loans deferred by Australia’s banks is now at least $200 billion.
Australian Banking Association CEO, Anna Bligh said this showed that the financial impact of the crisis was still unfolding and customers continued to need support from their bank to get through it.
“New data released today shows that in just one week an extra 100,000 customers have had their loans deferred, including 50,000 home loans, to take the pressure off household and business budgets as they navigate through this pandemic,” Ms Bligh said.
“These updated figures, together with figures not previously reported, bring the total number of loans deferred by Australia’s banks as a result of the COVID-19 pandemic to over 643,000, of which approximately 392,000 are home loans.
ABA CEO Anna Bligh
“These updated figures, together with figures not previously reported, bring the total number of loans deferred by Australia’s banks as a result of the COVID-19 pandemic to over 643,000, of which approximately 392,000 are home loans.
“The total value of loans which has been deferred has increased by at least $20 billion in just one week.
“These new figures, released today, shows banks working overtime to ensure assistance is given where needed to customers who are affected by this crisis.
“The surge in demand for assistance from banks shows that the economic impacts continue to be felt, and by no means is the nation through this crisis,” she said.
ENDS
Contact: Rory Grant 0475 741 007
Latest news
With the AFL and NRL finals about to kick off and demand for tickets set to surge, the Australian Banking Association is warning footy fans to be on the lookout for scammers. The ABA is issuing this warning during Scams Awareness Week and as tickets for the AFL finals go on sale from today. … Read more »
The Australian Banking Association (ABA) has welcomed today’s announcement from the Federal Government to bring forward the start of the Home Guarantee Scheme. Under the Guarantee, eligible first home buyers are able to purchase a home with a smaller deposit and avoid paying lenders’ mortgage insurance. ABA CEO Simon Birmingham said it made sense to… Read more »
This Scams Awareness Week, banks are urging Australians to remain alert to emerging scam threats, from criminals using AI to replicate the voice of people you trust through to deepfake videos of celebrities endorsing investment opportunities. AI scams to be on the lookout for: ABA CEO Simon Birmingham said the ever-increasing use of AI… Read more »