29 Sep 2010

Banks look at help for southern farmers

12:51 pm on 29 September 2010

Banks have been busy contacting their rural clients who had livestock losses and farm damage in the storms in Southland and south Otago.

New Zealand manager Ben Russell says it will work on a individual case-by-case basis with farmers who need financial help.

National Bank, the biggest rural lender, says it will put plans in place to help farmers get through the immediate crisis and damage, but also restore cash and capital provisions over the next one to three years

Agribusiness bank Rabobank says it's looking at support measures that may include deferring scheduled loan payments and waiving fees for some services.