Australian Banks Offers Assistance to Customers Impacted by Queensland Floods

MT Newswires Live

Feb 05, 2025

The Australian Banking Association is offering financial relief to bank customers affected by recent severe floods in north Queensland, according to a Tuesday announcement from the group.

AMP (ASX:AMP), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Bank of Queensland (ASX:BOQ), Bendigo and Adelaide Bank (ASX:BEN), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), National Australia Bank (ASX:NAB), Suncorp (ASX:SUN) and Westpac Banking (ASX:WBC, NZE:WBC) are part of the association.

The banks will offer a number of measures based on individual circumstances. This includes the deferral of upcoming credit card payments and the deferral of scheduled loan repayments, per the statement.

They will also offer emergency increases in credit limit, restructuring of existing loans, waiver or refunds for fees and charges, as well as additional finance to help cover cash flow shortages.

Macquarie shares fell almost 1% in early trading on Wednesday.

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