More than 170 branches close amid flood disaster

By Mozo ·

Financial services in Queensland have been severely hit by the flood disaster, with more than 170 branches having closed from the Sunshine Coast to Brisbane's CBD.

A major bank has also warned of the risk of some ATMs soon running out of cash while Westpac said it had been forced to close 40 of its branches and Commonwealth Bank 64, the Courier-Mail reported.

It was revealed that banks were being forced to show greater flexibility in their handling of requests from flooded customers, including from those who had previously opted to compare term deposits and build up funds.

"Banks are offering assistance packages for customers, ranging from some relief for repayments, to letting them break term deposits to access funds," said the newspaper.

Meanwhile, Bank of Queensland said that while lending activity would inevitably go "right down" in the wake of the flooding, it would expect to see a surge in applications when the rebuilding activity was able to start.

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