- “Each bank will have their own credit policies and approach to providing assistance. It’s important for affected customers to talk to their bank as soon as possible. That gives banks the best chance of offering assistance.”
- RBNZ and bank lobby group NZBA have issued a joint statement in response to mounting concerns about the health and economic impacts of the global coronavirus outbreak.
- New Zealand Bankers’ Association chief executive Roger Beaumont says there is a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans.
- “It’s not a concern about any significant uplift in farmers in distress. No bank wants to see any business fail. To put it into perspective, there are about 52,000 farms and there are fewer than 10 mortgagee sales a year,” Beaumont said.
- “There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” said New Zealand Bankers’ Association chief executive Roger Beaumont.
- New Zealand Bankers’ Association chief executive Roger Beaumont said banks worked closely with farming customers and that was reflected in the low number of mortgagee sales in the sector. There were about 52,000 farms in New Zealand and fewer than 10 farm mortgagee sales a year, he said.
- A New Zealand Bankers’ Association spokesperson said banks were constantly responding to customer preferences but they weren’t seeing “that kind of demand” for sharia-compliant loans.
