Skip to main content
Financial Assistance Hub

Banks deferred 100,000 extra loans this week: total more than 643,000

8 May 2020

New figures released today show Australia’s banks have deferred an extra 100,000 loans, including approximately 50,000 home loans, over the last week to help customers through the COVID-19 pandemic.


The total number of loans deferred is now at least 643,000.


This new data released today shows the total value of loans deferred by Australia’s banks is now at least $200 billion. 

Australian Banking Association CEO, Anna Bligh said this showed that the financial impact of the crisis was still unfolding and customers continued to need support from their bank to get through it.

“New data released today shows that in just one week an extra 100,000 customers have had their loans deferred, including 50,000 home loans, to take the pressure off household and business budgets as they navigate through this pandemic,” Ms Bligh said.

“These updated figures, together with figures not previously reported, bring the total number of loans deferred by Australia’s banks as a result of the COVID-19 pandemic to over 643,000, of which approximately 392,000 are home loans.

ABA CEO Anna Bligh

“These updated figures, together with figures not previously reported, bring the total number of loans deferred by Australia’s banks as a result of the COVID-19 pandemic to over 643,000, of which approximately 392,000 are home loans.

“The total value of loans which has been deferred has increased by at least $20 billion in just one week.

“These new figures, released today, shows banks working overtime to ensure assistance is given where needed to customers who are affected by this crisis.

“The surge in demand for assistance from banks shows that the economic impacts continue to be felt, and by no means is the nation through this crisis,” she said.

ENDS

Contact: Rory Grant 0475 741 007

Get more information on how banks can help you.

Latest news

1 / 3
Transcript
Anna Bligh interview on 2GB Afternoons with Michael McLaren
22 April 2025

Michael McLaren (Host): Well, here we are at the Easter Show, the great celebration of country life in the city, but it’s also an important platform this to better understand the challenges that the regions face. Now, yesterday, we looked at the floods. Today, I want to look at the banks. Now in the regions,… Read more »

Read more
Media Releases
Banks continue to support FNQ flood recovery efforts
3 April 2025

The ABA is reminding customers across North and Far North Queensland that they don’t have to tough it out on their own, as they continue to recover from February’s severe flooding event. ABA CEO Anna Bligh recently met with Queensland’s State Recovery Coordinator Andrew Cripps to discuss how banks can assist customers facing financial difficulty… Read more »

Read more
Media Releases
Banks offer support to customers impacted by flooding in western Queensland and parts of NSW
2 April 2025

Banks stand ready to support customers in western Queensland and parts of New South Wales affected by heavy rainfall and flooding. ABA CEO Anna Bligh said customers don’t have to tough it out on their own and banks have a range of practical measures to assist those facing financial stress. “This is a challenging time… Read more »

Read more