00:00what we're seeing there is i think customers have learned a lot from that
00:03last severe drought now they really are looking at different improvements whether it be around
00:08water structure improved pastures just better soil health and and even sort of better genetics
00:16whether that be on the cattle or the cropping side of things as well and i think another key
00:21part is looking at technology and how that has a part to play you know a lot of these have
00:26become
00:27much more cost effective for example when you've got vegetation or pasture mapping to know how many
00:32more days you've got to feed in that paddock before you need to move cattle um even checking waters
00:38etc use of drones and a lot of that is starting to become accessible at that family farm level
00:44which is pleasing obviously the larger projects that's that's that that is a little bit more
00:49capital intensive and and we see that certainly in horticulture as well but i think across the board
00:54that you know they they really can sort of there's a lot that they can do and there's a lot
01:00that they
01:00have done it really struck me um at uh the vocag conference in brisbane last year how many of those
01:09devices are there and out there and and accessible to farmers um you know on the cattle side of things
01:15you know whether it be you know preg testing without you know in a less invasive way or
01:21the whole um optimize optimize monitoring which is great actually having these machines in a paddock
01:26they're relatively affordable and farmers are can really start to track those weight gains uh you know
01:32in a you know in a timely manner without having to you know travel to order um you know every
01:37paddock so
01:38first up i should really say that we we very much look to bank people through the cycle so
01:43you know i we understand we use a year and year out principle so we are looking at
01:49what can be done in a normal year what's the appropriate level of debt and and the risk settings
01:54we put around that whether it be about equity or servicing um are really set with with with
02:00with buffers in mind to give sufficient headroom that we are there to help
02:04our customers in those dry times good forecasting uh good budgeting i think that the customers that
02:12are prepared certainly you know they can but they know they know where the costs are they know where
02:18they need to they can sort of move things around um you know i think back to one particular customer
02:24who
02:24you know in a really bad year um it's dry capital prices are really poor uh she actually presented three
02:31different budgets to me so there was one the optimistic one one in the middle and one was
02:36very much the armageddon scenario which you'd hope didn't get there but what it meant is that we could
02:42start a discussion early um and and and sort of be prepared for that and structure any systems
02:48accordingly so i think i think that final thing i'd say is that early engagement really getting in there
02:54talking with the bankers and and conversely i expect my team and they do anyway because they're
03:01passionate about it but getting out on the front door talking to their customers talking to the
03:05farmers and saying hey i see it's dry or how are things going and and sort of testing the temperature
03:12you know there's so much data out there and when you look at the cropping side of things the amount
03:16of data that's coming out of these big farm machines i think it's i think this is also where
03:20ai has got a part to play in future to interpret a lot of that and come out with some
03:25useful
03:25um decision making tools look what we're seeing in general uh terms with our customers is that
03:32obviously high costs higher interest rates and higher fuel prices and and and other petrochemical
03:38chemical derived products such as polypipe um that has an impact um i think what it means in terms of
03:46budgeting that may they may spread things out a bit more but they're still working they're still um
03:50they're still very much doing things i think you want to see this recent rain has helped a little
03:56bit uh as well um we're also seeing if i look at the rural property side of things that there's
04:01good properties are still selling yeah and there's good interest so i think as a barometer i think
04:08there's um whilst people are cautious there's still optimism since i've been doing this role with
04:14west patford what the last 11 years i've seen a a real positive shift in terms of the openness to
04:21discuss mental health in general and particularly in in rural areas where you know drought and severe
04:28weather can can really take its toll particularly and in those regional remote areas so i think i think
04:34there's a lot less stigma about it how we feel i know certainly also as an organization um you know
04:40we're
04:41very conscious about that with our own staff as well not just if they're living really remotely but
04:46obviously the customers they come into contact with it's important that they understand it i'd say
04:51with a you know westpac i think we've certainly recognized you know the importance of regional i
04:57mean if you look if you look back to the fact that roughly 35 percent of gdp is actually comes
05:03from
05:03regional australia it's really important that we have strong vibrant communities there um we haven't as
05:09an organization always got those settings right um we're certainly shifting in that regard and
05:15investing in in um in new service centers or business centers which we've done in different
05:22locations um and it is well refurbishing um existing um branches and business centers and you know there's
05:29a couple of major projects here in southern queensland in in roma and and they'll be even at the moment
05:35where
05:35we're looking to to do that and and put more bankers there and put more boots on the ground so
05:39i think i think it's very important that we keep those communities right and strong there's so many
05:45avenues you can go down i think what i'd say is probably come to us early for our customers the
05:51earlier that we can engage with you um if you see a problem you see the way that the seasons
05:56are
05:56going talk to us early because that gives us time to prepare um you know we we bank through the
06:02cycle
06:02anyway we get that we understand it but i think the sooner you recognize there's a there's an issue um
06:08the more we can all get on top of it
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