The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
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Research released by the ABA today shows total credit outstanding to SMEs at the end of last financial year had reached $588 billion – a 28% increase from the year prior.
It’s World Micro, Small and Medium Sized Enterprises Day today, which highlights the importance of the Australian small business sector as the engine of the country’s economy.
The ABA has developed a new Branch Closure Support Protocol to improve transparency, ensure better communication, and provide improved customer support when banks close branches.
With one in six older Australians experiencing some form of abuse, today’s World Elder Abuse Awareness Day is an important reminder to look out for the warning signs.
Australia’s financial counselling services will receive a $7.75 million boost following a cross-industry donation.
“Banks hardship teams have experience working with those impacted by floods and can assist with a range of practical measures.”
“The message from banks is clear: don’t tough it out on your own, call your bank as soon as you are able to, they are ready to help.”
Don’t let a natural disaster become a financial disaster. Call your bank, they can offer a range of measures right now. Don’t tough it out on your own.
“the earlier that people speak to their bank, the more likely it is that the bank can find a solution that will work and keep the customer out of financial strife.”
“these factsheets are just one tool in Australian banks’ toolkit of offerings to help customers to get back on track”
“Australian banks are currently supporting almost 3000 people in and around the NSW Northern Rivers region”
ABA CEO Anna Bligh spoke on ABC radio on how banks are responding to the floods across NSW, and the RBA’s moves to curb inflation.
An average of $3.2 billion was lent to small business in the second half of 2021, up 24% from the $2.6 billion in the second half of 2020.
options to defer loan repayments for up to 3 months for those customers affected by the flood disasters
“it’s heartening to see the need for assistance declining as many States and Territories come out of lockdown”
More than 57,000 customers have received hardship assistance during recent lockdowns across Australia.
“This is an important loan scheme that’s helping Australian businesses fight their way through the pandemic,”
Since 8 July 2021, more than 14,500 home loans have been deferred, while more than 600 business loans have been deferred.
Australia’s banks stand ready to assist the Government with the vaccine rollout.
Banks across Australia are ready and willing to assist customers affected by the COVID-19 lockdowns.