Rabobank extends support for bushfire impacted clients

Rabobank extends support for bushfire impacted clients

Agribusiness
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Rabobank has announced extended support measures for bushfire impacted clients.

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Rabobank has announced extended support measures for bushfire impacted clients, following further widespread fire activity.

Rabobank Australia CEO Peter Knoblanche said the bank's staff in bushfire-affected regions were continuing to contact clients to check on their safety and welfare and offer assistance where required.

"Unprecedented fire activity has impacted a significant number of communities across the country, with loss and damage to agricultural land, livestock, houses and infrastructure and most tragically, lives. Although it is still too early to assess the full extent of the damage, the impact of the fires on farming businesses has been compounded by ongoing drought with many holding very limited reserves of feed, fodder and water," he said.

Mr Knoblanche said recent fire activity had been significant in south-eastern NSW, in South Coast dairy communities and Alpine grazing areas, as well as Victoria's East Gippsland and Corryong regions.

"Added to that, many are bracing for ongoing fire activity in the days and months ahead, with Western and South Australia currently facing severe weather conditions and deteriorating conditions expected in the eastern states over the weekend."

Mr Knoblanche said the bank would continue to work individually with clients whose farms or agribusinesses had been impacted by bushfires to support them through the immediate difficulties and provide a range of assistance measures in applicable circumstances.

These included:

  • deferral of scheduled loan payments,
  • waiver of break costs on early redemption of farm management deposits to allow access to needed funds,
  • waiver of fees on loan increases necessary for rebuilding operations and
  • waiver of fees for equipment finance variations.

Mr Knoblanche urged farming clients who been impacted by the bushfires, and had not yet spoken to the bank, to contact their local branch or phone Rabobank on 1800 025 484.

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