Clancy Yeates

Clancy Yeates

Clancy Yeates reports on banking and finance and is a former Canberra business correspondent.

ASIC calls out banks on interest-only home loans

Clancy Yeates Banks and other lenders have been put on notice by the corporate watchdog, after it found significant flaws in credit standards in the booming interest-only mortgage market.

ANZ's Mike Smith cautious on Sydney and Melbourne housing markets

ANZ chief Mike Smith says the bank is managing Sydney and Melbourne housing hotspots

Clancy Yeates ANZ Bank chief executive Mike Smith says the bank is treating hotspots in the Sydney and Melbourne housing markets "very cautiously."

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ANZ Bank focuses on costs as it faces 'challenging' environment


Clancy Yeates ANZ Bank says it is sharpening its focus on keeping costs under control and capital management, as it faces a "challenging" global banking environment.

Westpac tightens interest-only credit policies

Westpac is taking a firmer line on interest-only home loans.

Clancy Yeates The country's biggest lender to landlords has outlined changes requiring new interest-only borrowers to be tested against their ability to make principal, and interest and fees payments.

ANZ says proposed bank capital rules to push up mortgage costs for first-home buyers

ANZ deputy chief executive Graham Hodges on Friday said changes under discussion dealing with how much capital banks would have to carry could disadvantage borrowers who had smaller deposits.

Clancy Yeates Why banking rules being nutted out in Switzerland could cost Aussie first-home buyers.

CBA's $5b raising means banks have done heavy lifting on capital

Commonwealth Bank's $5 billion rights issue could be the last big capital raising from banks for now, analysts say.

Clancy Yeates Our banks can probably satisfy the upward drift in capital requirements without more explicit raisings, analysts say.

Commonwealth Bank warns higher capital costs to hit returns

CBA chief executive Ian Narev says carrying capital will lead to a

Clancy Yeates Lending giant's profitability will probably dip over the coming years.

CBA's Ian Narev says house prices have further to run

Head of the CBA, Ian Narev, announces the full year results for the CBA on August 12.

James Eyers and Clancy Yeates Commonwealth Bank of Australia chief executive Ian Narev says the forces of supply and demand that are propelling house prices in Sydney and Melbourne are likely to persist for "quite some period of...

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Why CBA's profit growth is slowing

CBA delivered a $9.14 billion profit on Wednesday.

Clancy Yeates Commonwealth Bank rightly has a reputation as profit-generating machine, but its latest $9.14 billion in earnings also show the engine isn't running as smoothly as it has in the past.

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Banks defend 'spread' between credit card interest and official cash rates

Banks say funding costs are a less important influence on what it costs to provide credit cards.

Clancy Yeates Average credit card interest rates have barely budged in recent years, despite the cash rate plunging to a record low of 2 per cent.

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CBA profit result: Five things to watch out for

CBA hopes to encourage more shoppers to use their phones as wallets.

Clancy Yeates You can be sure of one thing when the Commonwealth Bank delivers its annual profit results on Wednesday morning: a very big number.

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NAB third-quarter profits rise 9 per cent to $1.75 billion

NAB's third-quarter profits rose 9 per cent compared with a year earlier.

Clancy Yeates National Australia Bank's third-quarter profit rose 9 per cent to $1.75 billion, as it said it expects to book additional provision charges of up to $1.

CBA set to seek billions from shareholders


Clancy Yeates The Commonwealth Bank is expected to join rivals in tapping shareholders for billions in extra funds this week, as banks move to lift their capital buffers against financial shocks.

CBA tipped to raise capital amid $9.1b full-year profit forecast

CBA is expected to deliver a $9.1 billion profit on Wednesday, but all eyes will be on any move to lift capital.

Clancy Yeates The country's biggest bank is forecast to deliver a full-year profit of $9.1 billion on Wednesday, an increase of about 5 per cent.

$27 billion wiped off banks


James Eyers and Clancy Yeates The spectre of rising bad loans, flat dividends and additional equity raisings to satisfy nervous regulators saw investors wipe $27 billion off the value of the big four banks over the past two days.

ANZ Banking Group shares whacked after it completes $2.5b institutional raising

ANZ said there had been an increase in provisions for bad debts - which have been at historic lows thanks to the very low level of interest rates.

Clancy Yeates ANZ shares dropped the most in almost seven years when they resumed trading after unveiling a capital raising and weak profit result.

ANZ to raise $3 billion from shareholders to increase capital levels

Australia and New Zealand Banking Group has announced an institutional share placement to raise $2.5 billion and and a $500 million share purchase plan offer for retail investors.

Clancy Yeates ANZ Banking Group is raising $3 billion from shareholders to boost its capital levels in response to rules requiring banks to be more resilient to financial shocks.

CLSA's Brian Johnson warns Brisbane, Perth housing vulnerable to 'collapse'

House prices in the capitals of resource-rich Western Australia and Queensland look vulnerable, says CLSA analsyt Brian Johnson.

Clancy Yeates CLSA banking analyst Brian Johnson says Brisbane and Perth housing markets are vulnerable to "regional collapse" and CBA would be the most exposed lender to any WA house price correction.

Genworth calls for capital relief on mortgage insurance

Genworth chief executive Ellie Comerford says there could be

Clancy Yeates Genworth Mortgage Insurance is calling on regulators to give big lenders more incentive to pass home loan risk onto insurers.

Westpac pulls out of funding payday lenders

Westpac is pulling the plug on financing payday lenders.

Clancy Yeates and Shaun Drummond Westpac will no longer finance payday lenders, a move that will force companies including Cash Converters and Money3 to obtain some of their funding elsewhere.