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ASB to extend flood payment to affected customers

A land slip is seen below a house on Brigantine Drive in Beach Haven following torrential rains which caused widespread flooding across Auckland in January 2023.
Hundreds of homes in Auckland have been damaged. Photo: Supplied

ASB customers with red or yellow-stickered homes from the extreme weather in the upper North Island can now access a one-off ex gratia payment of $2000 per household to help with unforeseen costs.

The bank's chief executive Vittoria Shortt said anyone whose home address listed with the bank last Friday was red or yellow stickered as a result of the flooding, and who had an active banking relationship with ASB on that day, was eligible to receive the payment.

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"We know this is an incredibly difficult time for many households and businesses and we want to help people get back on their feet," she said.

"Right now they may need a place to stay, or to replace flood damaged essentials like clothing or bedding, or perhaps to replace spoiled food and grocery items.

"Eligible red or yellow stickered ASB customers will receive $2000 per household, to use as they need."

Shortt said the bank was also offering a $2000 payment to small business customers impacted by the flooding.

She said a number of ASB employees had been severely impacted by the flooding and the bank was providing similar support for its employees.

Major retail banks such as ASB, Kiwibank and BNZ have offered a range of temporary measures to offer financial assistance to their customers affected by the floods, including mortgage repayment deferrals, and easy access to savings.