NZ dairy farmers repay $1.7 billion in debt as milk price hits $10/kgMS
Dairy farmers are shoring up their balance sheets, with almost $1.7 billion of debt repaid in the six months to March 2025.
“It’s been a tough few days for those impacted by the severe weather events, our thoughts are with those dealing with damage and destruction to the community and their businesses, and their family homes,” says Lorraine Mapu, ANZ managing director of business and agri.
“We want to reassure our business, farming and personal customers the bank is here to work with them in the days and months ahead,” Mapu told Rural News.
Targeted assistance is available for business and farming customers such as temporary overdraft facilities and the ability to defer loan repayments or move to interest only to help ease some financial pressure.
“Our team are reaching out to farmers and our small and medium-sized business customers to see what else is needed,” Mapu says.
“We encourage personal and home loan customers to talk to us if they need to relieve pressure on their financial situation,” she says. “There may be a range of ways we could help, such as restructuring their home loan repayments or providing access to an overdraft facility.”
Business and Agri customers should speak to their relationship manager to discuss the impact on their business and their funding requirements.
All other ANZ customers should call 0800 269 296.
