Rabobank has announced extended support measures for farming and agribusiness clients continuing to be adversely affected by ongoing heavy rainfall and impacts of the earlier floods in Queensland’s south east.
Rabobank regional manager for southern Queensland and northern New South Wales, Brad James said farmers in Queensland’s south east are still “getting back on their feet” following the significant flooding in February and the extreme rain events in recent days will have extended this recovery timeline.
“This recent rain event, following so soon after the disastrous flooding in February, which was amongst the worst in recent history in these regions, has seen agriculture bear a major part of the brunt of the damage,” he said.
“The full effects of this prolonged rainfall on agriculture won’t be clear for some time, however impacted producers are dealing with damage to pasture, crops, livestock and infrastructure, including sheds and fencing.”
Mr James said as a bank which has a primary focus on agriculture, Rabobank considered it “a normal part of our business to work with and support farmers who are affected by weather conditions, particularly extreme weather events such as these”.
He encouraged farming clients impacted by the recent rainfalls to contact their local manager to discuss how Rabobank can support them.
Mr James said the bank would work directly with individual clients whose farms or agribusinesses have been affected to provide support and assistance by offering a range of tailored measures in applicable circumstances.
These measures include:
- deferral of scheduled loan payments;
- waiver of break costs on early redemption of farm management deposits;
- waiver of fees on loan increases necessary for rebuilding operations;
- waiver of fees for equipment finance contract variations.
Rabobank encourages any farming and agribusiness clients who have been adversely impacted by the rain events to contact their local branch or phone Rabobank on 1800 025 484.
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 120 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 38 countries, servicing the needs of approximately 8.4 million clients worldwide through a network of more than 1000 offices and branches. Rabobank Australia & New Zealand Group is one of Australasia’s leading agricultural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 90 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
Will Banks
Media Relations Manager
Rabobank Australia
Phone: 0418 216 103
Email: will.banks@rabobank.com