Commonwealth Bank donates $1,350,000 million to QLD Flood Appeal & reaffirms assistance package for victims

31 December 2010: 

The Commonwealth Bank today announced it has donated $1,350,000 to the Queensland Premier’s Flood Relief Appeal to assist those affected by the Queensland floods, and reaffirms its commitment to flood victims.

Ian Saines, Group Executive Institutional Banking & Markets said: “After speaking to our people on the ground and seeing the devastation, we now have a better idea of the total disaster.

“As time passes, it becomes more evident that an enormous amount of assistance is required and I am pleased to announce the Bank’s additional support for the people of Queensland,” Mr Saines said.

The Bank earlier this week activated its emergency assistance package for customers affected by the disaster and also opened its branch network to collect donations for the Premier’s appeal.

Key features of the Bank’s special assistance package include:

  • providing changes to repayment arrangements for Commonwealth Bank home loan customers who may experience difficulties because of the flooding, 
  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees,
  • considering requests for additional loans (including emergency credit limit increases) where, based on our enquiries, the customer could meet the additional repayments without financial difficulty,
  • expediting claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance,
  • waiving prepayment charges over the next month for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures ahead of the maturity date,
  • waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

Mr Saines on behalf of all in the Commonwealth Bank, once again, expressed sympathy to the families affected by this disaster.

Customers seeking assistance should call 13 2221 or visit their nearest branch.


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For further information please contact:

Nichole Willson
Commonwealth Bank
T: 02 9117 7051
M: 0411 698 785