fbpx
Skip to main content
Click here for the new Financial Assistance Hub

Banks deferred 100,000 extra loans this week: total more than 643,000

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

Get more information on how banks can help you.

Latest news

1 / 3
Transcript
Banks supporting customers across Australia with 3 month deferrals, merchant fee refunds
20 July 2021

these options do give people you know, a breather, that’s what they’re designed to do, just take the load off for three months, while you get through everything else that you need to get through.”

Read more
Media Releases
Banks supporting customers as lockdowns extended
17 July 2021

“customers can rest assured that their bank will have their back”

Read more
Media Releases
Australian banks offer COVID-19 customer relief
8 July 2021

The national support package will be available to all small businesses and home loan customers significantly impacted.

Read more