increase font size
Three of New Zealand's major banks have announced support packages for those impacted by the severe weather events in the Nelson-Tasman and West Coast regions.
Banks across New Zealand are offering financial support to customers hit by the severe weather in the South Island.
ASB announced yesterday that it would offer support to customers who have been impacted by the severe weather events in the Nelson, Tasman and West Coast regions.
The bank says it is offering tailored packages, including the suspension of home loan repayments and emergency overdraft facilities for personal, business and rural customers.
ASB South Island regional manager Martin Gay says the bank is working hard to support customers who may require emergency financial assistance as a result of this week’s weather events.
“We know the situation throughout the country is likely to get worse before it gets better and there will be a lot of concerned customers out there. ASB is here to help with our teams on standby to talk through our range of relief options to best suit our customers when they’re ready.
“Those affected by flooding and other weather damage may have a long road ahead and we hope these measures will help to alleviate some pressure so they can focus on more immediate tasks at hand,” Gay says.
Meanwhile, Westpac is offering a similar package, including a deferred payment on business credit cards for up to three months and a suspension of principal loan payments for up to three months.
Westpac NZ general manager of consumer banking and wealth, Ian Hankins says the bank’s key focus is on ensuring staff and customers are safe and well-supported.
“The extreme weather we’ve seen in these regions has been destructive and our thoughts are with everyone affected,” Hankins says.
“Customers can have peace of mind that we will be there to provide them with support options so they can focus on looking after each other and their property in the meantime.”
ANZ’s managing director for business Lorraine Mapu says the banks thoughts are with the people of the Nelson/Tasman community as they grapple with the weather.
“We know those farms and businesses impacted by heavy rain and flooding will be focused on repairing damage and ensuring their livestock are safe,” she says.
The bank will be offering targeted assistance, including short-term funding to assist with unexpected costs, and the suspension or reduction of principal loan repayments.
Mapu says that where customers meet hardship circumstances, notice period requirements and interest rate recovery costs associated with early access of term deposit funds will be waived.
The bank will also waive fees associated with the restructuring of business loans considered necessary due to the impacts of the weather.
“Business and agri customers impacted by flooding should speak to their relationship manager to discuss the impact on their business and their funding requirements,” Mapu says.
New Zealand milk production is off to a strong start, with the first month of the 2025/26 dairy season recording a whopping 17.8% jump in milk production, compared to the previous season.
A leading financial and banking advisor says he doubts if most dairy farmers fully understand the dynamics of banking.
OPINION: Two years on from Cyclone Gabrielle, I've learned that while the power of Mother Nature is formidable, it is more than matched by the extraordinary capacity of locals to recover and rebuild.
OPINION: Over the past month, people up and down the country have been asking me what I think is in store for the Agri sector.
The 2025-26 season is set to start on a high and a $10/kgMS opening forecast milk price isn't being ruled out.
Kiwis love their butter, and that's great because New Zealand produces some of the best butter in the world. But when the price of butter goes up, it's tough for some, particularly when many other grocery staples have also gone up and the heat goes on co-operative Fonterra, the country's main butter maker. Here the co-op explains why butter prices are so high right now.
DairyNZ chair Tracy Brown has waded into the debate around soaring butter prices, pointing out that the demand for dairy overseas dictates the price to farmers and at the supermarket.
Farmers are welcoming new Government proposals to make farm health and safety rules more practical and grounded in real-world farming.
Missing fresh mozzarella cheese made at home in Bari, southern Italy, Massimo Lubisco and his wife Marina decided to bring a taste of home to New Zealand.
An A$2 billion bid for Fonterra's Oceania business would be great news, according to Forsyth Barr senior analyst, equities, Matt Montgomerie.
Irish meat processor Dawn Meats is set to acquire a 70% stake in Alliance Group, according to a report in The Irish Times.
OPINION: Your old mate's ear has been chewed off recently by farmers voicing their displeasure with the National Party, particularly…
OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try…
