Westpac announces support for businesses affected by Coronavirus

Westpac annouces support measures for business customers financially affected by the outbreak of Coronavirus.

The measures will be available to eligible customers immediately and will remain in place for customers financially affected by the Coronavirus for an initial period of three months.

Guil Lima, Chief Executive, Business Division said the impacts of the outbreak are starting to be felt across a wide and varied group of industries, with no clear indication of when business might return to normal.

“This is an extremely difficult period for some Australian businesses. We want our customers in any affected sectors to know there’s a range of ways we are ready to support them”, Mr Lima said.

Coronavirus support measures may include:

• Fee free redraws

• Business loan deferred repayments up to 3 months

• Option to extend Business Loan term by up to 3 months

• Restructuring and consolidating loans

• Access to term deposit funds without reduction in interest rate

• Deferred payments for Business Credit Cards

• Business Financial Counselling access

Mr Lima said: “These initiatives aim to provide practical and meaningful support for eligible impacted customers. If your business has been affected by the Coronavirus outbreak, please get in touch with us to see how we can help.”

The Coronavirus assistance extends the support Westpac Group is offering customers who’ve been impacted by drought and bushfires.

Mr Lima said: “Our thoughts are with everyone who has been, and continues to be affected during what is a difficult and emotionally challenging time, and it’s important our customers know we are here to help.”

To find out more information and if you are eligible please call: Westpac 1800 067 497 St.George 1800 629 795 Bank of Melbourne 1800 600 266 BankSA 1800 679 461 For more information on other support Westpac is offering see: https://www.westpac.com.au/help/disaster-relief/

For further information: Mike Willesee Media Relations 0466 379 081



MST Marquee – The impact of migration on retail

Retail businesses setting budgets and forecasting are understandably finding it difficult to navigate the uncertain economic conditions. Our research can help educate retailers about industry profitability benchmarks, wage growth and inventory levels, so that businesses can better prepare for the future.

Now more than ever

If business, and retail especially, must reflect the zeitgeist in order to remain relevant, then in this unique inflection point in history, the rights of Indigenous people must be incorporated

Retail Voice CEO Message: 8 May 2024

Achieving a unified voice for retail has been a compelling focus for our industry for many years. It is in the spirit of this endeavour that we are delighted to

Retail Voice CEO Message: 1 May 2024

Yesterday, the Australian Bureau of Statistics released retail trade data for March, with a modest increase of just 0.8% compared to the same month last year, despite being bolstered by