The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
For media inquiries contact [email protected] or 0475 741 007.
More than 57,000 customers have received hardship assistance during recent lockdowns across Australia.
Since 8 July 2021, more than 14,500 home loans have been deferred, while more than 600 business loans have been deferred.
“…banks can go back to their normal processes and that is working out what’s right for every single customer, on an individual tailored basis with a proper assessment. That is the best thing for the customer.”
The number of deferred loans has fallen below 300,000 – a reduction of almost 70% since the peak earlier this year.
Interview: Almost 45% of Australians who deferred their mortgages in June have begun repaying their loans.
Almost half of deferred loans are now being repaid again as Australians recover from the pandemic
Australia’s banks supported their customers as the country entered the COVID-19 pandemic and they continue to support them on the way out. As the initial wave of 6-month loan payment deferrals come to an end, banks have begun to contact customers for their 6-month assessment and to discuss the next stage of support and assistance. … Read more »
“These figures show there are some green shoots emerging in our economy and that’s a positive sign.” – ABA CEO Anna Bligh
This new phase of support turns a cliff into manageable steps for Australians to get back on track.
Banking activity during the coronavirus pandemic. Between 14 May and 19 June the ABA published data on total deferrals member banks made to customers. These figures represented the sum total of deferrals made at the time of each data publication, and does not account for deferrals which had been reversed at the customer request. ABA’s… Read more »
Banks have deferred the repayments of one in fourteen mortgages totalling more than $150 billion to assist Australians through the COVID-19 pandemic.
Australia’s banks deferred an extra 100,000 loans, this week, including approximately 50,000 home loans, to help customers through the COVID-19 Pandemic. Total number of loans deferred is now at least 643,000.