Rabobank national manager Country Banking Australia Todd Charteris said while the level of damage wreaked on agricultural production by the cyclone was still to be assessed – with severe wind, rain and flooding still ongoing – it was clear farmers were among those who had borne the brunt of its impact.
“The areas which have been hardest hit by the cyclone – including from around Bowen, down through Proserpine to south of Mackay – are prime agricultural regions for the state, which are home to major cropping, sugar, horticulture and cattle operations,” he said.
“Staff from our local branches (in Ayr, Mackay and Townsville) are in the process of contacting clients to check on their wellbeing and offer help. Once this has been completed we will be in a better position to gauge the scale of the damage.
“Initial reports suggest the most impact is in damage to machinery sheds and fencing infrastructure, as well as to crops and sugar cane.”
Mr Charteris said Rabobank would provide a range of assistance measures to cyclone-affected clients in applicable circumstances.
These included:
- deferral of scheduled loan repayments
- waiving of break costs on early redemption of Farm Management Deposits
- waiving of fees on loan increases necessary to assist in rebuilding operations and
- waiving of fees for equipment finance contract variations.
Rabobank is requesting any impacted clients who have concerns and have not yet spoken to the bank to contact their local branch or phone Rabobank on 1800 025 484.
Mr Charteris said, on the positive side, there would “some ‘silver lining’ for farmers in the west of the state with the welcome rainfall that the cyclone has brought to those areas”.
Rabobank Australia & New Zealand Group is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 115 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank is structured as a cooperative and operates in 40 countries, servicing the needs of approximately 8.6 million clients worldwide through a network of more than 1000 offices and branches. Rabobank Australia & New Zealand Group is one of Australasia’s leading rural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 94 branches throughout Australia and New Zealand.
Media contacts:
Denise Shaw
Head of Media Relations
Rabobank Australia & New Zealand
Phone: 02 8115 2744 or 0439 603 525
Email: denise.shaw@rabobank.com
Skye Ward
Media Relations Manager
Rabobank Australia
Phone: 02 4855 1111 or 0418 216 103
Email: skye.ward@rabobank.com