Banks have teams ready to help in times of trouble
30 April 2021
The National Farmers’ Federation and Australian banks have agreed to hold a regular summit to discuss issues affecting farmers across Australia.
The first meeting was held this week, attended by NFF CEO Tony Mahar and ABA CEO Anna Bligh, along with representatives from banks and state and territory farming bodies.
NFF CEO Tony Mahar said farmers depended on a strong banking sector and the relationship between agriculture and lenders worked best when each other’s expectations and responsibilities were understood.
“Farmers have faced no shortage of challenges in the past five years, and at the heart of effectively meeting these challenges has been a farmer’s relationship with their bank.”, Mr Mahar said.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”
NFF CEO Tony Mahar
ABA CEO Anna Bligh said the meeting was a vital forum to ensure that banks and farmers are working together on key challenges such as drought and climate change mitigation.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″, Ms Bligh said.
The NFF and the ABA discussed their mutual interest in sustainability, climate change and a reduced emissions future, and animal welfare.
“Agriculture is a critical part of the Australian economy. Banks worked closely with the NFF through the drought and this ongoing dialogue will be crucial as the nation recovers from COVID-19″
ABA CEO Anna Bligh
As part of the Federal Government’s National Drought Forum, the NFF and its membership have been tasked by Agriculture & Drought Minister, David Littleproud to work with the ABA, accountants and financial advisors on ensuring farmers build resilience and are better prepared for future droughts.
“Sustainable farms are productive and profitable farms which is the end goal for farmers and lenders alike”, Mr Mahar said.
The meeting also discussed a nationally consistent farm debt mediation scheme.
Banks and farming organisations will meet again in October.
Latest news
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 »
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 »
The Australian Banking Association (ABA) welcomes the release of the 2025-26 Federal Budget that maintains confidence in our financial system. The ABA welcomes initiatives to: “This Budget provides extra support to Australians in the short-term whilst at the same time helping to address some of our longer-term challenges,” Ms Bligh said. “There are modest measures… Read more »