In response to continuing drought conditions across large areas of regional Australia, Commonwealth Bank today extended its support measures for affected regional customers. Support measures are now available to commercial businesses as well as agribusinesses, and also include access to a short term, confidential telephone counselling service.
Grant Cairns, Executive General Manager of Regional and Agribusiness Banking, Commonwealth Bank said: “Large areas across Australia are continuing to suffer from drought conditions and we understand the profound impact this is having on our businesses and communities based in regional Australia.
“Today we want to remind our customers of the ongoing support measures we have in place for those who are affected by drought, which should provide some relief during this difficult time,” he said.
Commonwealth Bank will work on a case-by-case basis to review the individual needs of regional and agribusiness customers affected by drought.
Our drought support measures may include, depending on circumstances, a range of options including:
- Access to a short term, confidential telephone counselling service;
- A business loan repayment pause;
- Extending the business loan term agreement;
- Waiving fees and charges related to business loan restructures; and
- Allowing withdrawal of Farm Management Deposit funds before maturity without penalty.
“We have long standing relationships with our regional and agribusiness customers, many of whom run viable and successful businesses under more favourable climate conditions,” said Mr Cairns.
Commonwealth Bank regional and agribusiness customers experiencing financial difficulties as a result of the drought should contact their Relationship Manager; phone 1300 772 968 or visit their nearest Commonwealth Bank branch.