Banks also reports how it has supported customers' financial resilience
CEO Vittoria Shortt said the bank has continued to support its customers and the community, despite the challenges of the Delta strain, the extended lockdown of Auckland in particular, and now Omicron.
“One of the ways we made a difference for our customers was through reviewing and streamlining our fees,” Shortt said. “We delivered more than $21 million in fee reductions, rebates, and removals to customers in the six months to December 2021.”
ASB also takes pride in having helped nearly 6,200 first home buyers take their first step onto the property ladder, she said.
“While the housing market remains a challenge, our arrears data shows no significant change and our advice for anyone finding it tough is to start talking to us early so that we can work together on a positive pathway forward,” Shortt said.
The bank has also remained committed to use RBNZ’s Funding for Lending Programme for the benefit of all Kiwis, with over $4 billion committed in purpose-led loans.
Other ways ASB has supported Kiwis include the launch of Support Finder digital tool, which helps customers explore their eligibility for a range of government benefits and payments, offering financial support options in response to the August lockdowns, and the trialling of a new banking service.
The bank also engaged in charitable work, supporting the Super Saturday vaccination campaign by giving a $5 donation for every first vaccination, resulting in more than $200,000 donated to long-term charity partner St John. There were also a new $200,000 Local Community Fund enabling ASB people to support local charities of their choice, Christmas giving in partnership with KidsCan, and an innovative social media campaign which raised $100,000 for Starship Foundation.
