Westpac will be providing a total commitment of at least $400,000 over the next 12 months to assist those affected by the Queensland floods.
According to the acting chief executive officer Peter Hanlon, Westpac will offer an immediate cash donation of $200,000 to the Queensland Premier's Disaster Relief Appeal and a further $200,000 funding for infrastructure, redevelopment initiatives and staff matching gifts that will take the total Westpac commitment to $400,000.
“We know it is a very tough time for families and businesses. Not only are crops destroyed, many people will not be able to return to their homes for some time. As one of Queensland’s largest businesses we want to assist our customers, staff and the community recover as quickly as possible," Mr Hanlon said.
Westpac has also put together a relief package which offers practical help by deferring some loan repayments and waiving fees.
The relief package will offer affected customers with Westpac home loans the chance to defer repayments for up to three months.