Clancy Yeates

Clancy Yeates

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

Rise of the robots highlights grey areas in financial service advice rules

Clancy Yeates Would you trust a computer to have your best financial interests at heart?

NAB offers 250,000 frequent flyer points to new mortgage borrowers

NAB is trying to lure owner-occupied mortgage customers with frequent flyer points.

Clancy Yeates NAB is trying to lure new mortgage customers with frequent flyer points, as banks roll out the perks for owner-occupier borrowers.

Westpac chief Brian Hartzer predicts services boom

Brian Hartzer speaks at the Trans-Tasman Business Circle lunch in Sydney on Wednesday.

Clancy Yeates Westpac chief Brian Hartzer is predicting a long-lasting "services boom" that will help make up for the resources slump.

ANZ shares wear most pain of big four

ANZ Bank shares are more than 25 per cent off their peak.

Clancy Yeates ANZ Bank has been hit hardest by the plunge in major bank share prices this year, as investors fret over its exposure to a slowing economy in China.

RBA's Guy Debelle nixes bond market calls for 'market maker of last resort'

'Volatility will be higher. In itself, this is not necessarily a bad thing. It is what it is,

Jonathan Shapiro and Clancy Yeates As the US Federal Reserve weighs raising rates this week, RBA assistant governor Guy Debelle has a message to skittish bond traders who complain their market has become a dangerous and illiquid...

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ANZ's Mike Smith to leave within a year

ANZ chief Mike Smith expects to leave the post

Clancy Yeates Australia's longest-serving chief executive of a major bank, ANZ's Mike Smith, expects to hang up his boots as head of the Asia-focused lender within a year.

NAB ramps up Clydesdale sales pitch

Clydesdale Bank chief executive David Duffy with NAB chief financial officer Craig Drummond and Clydesdale CFO Ian Smith.

Clancy Yeates National Australia Bank remains intent on floating Clydesdale Bank despite the market volatility that has hammered bank share prices, telling investors there is significant scope to lift returns in...

ANZ's Mike Smith says politics makes rugby look 'docile'

ANZ chief executive Mike Smith says political uncertainty over the last seven years had hurt confidence.

Clancy Yeates and Shaun Drummond ANZ Bank chief executive Mike Smith says he is hoping for a period of greater stability and improved business confidence after Malcolm Turnbull's toppling of Tony Abbott.

Complaints against banks over business lending 'small': ASIC

ASIC does not have grounds for further action against banks over the treatment of commercial borrowers.

Clancy Yeates The corporate watchdog has responded to concerns about banks' treatment of small business customers.

Why more banks should be wary about coal

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Clancy Yeates

Clancy Yeates What's behind these uncharacteristic moves from the big banks? Normally, the banks are loath to publicly discuss their stance on individual projects.

CBA's $1.5b miss on retail offering

Retail support for CBA's capital raising was affected by the plunge in bank shares.

Clancy Yeates Mum and dad investors blow raspberry at Australia's biggest bank.

How bank branches are being reinvented

A former Bank of NSW building in Newcastle.

Clancy Yeates The bank branch as you know it is being transformed as customers embrace digital banking.

NAB to offer computerised financial advice to bank customers

NAB is set to offer computer-generated financial advice.

Clancy Yeates National Australia Bank will launch an online platform that produces free, general advice on retirement savings and insurance.

Higher interest rates for property investors make sense: NAB's Gavin Slater

Clancy Yeates Loans to property investors have a different risk profile to those being paid off by people living in their home, says NAB's head of personal banking.

Hartzer to slim down a higher-tech Westpac

Westpac CEO Brian Hartzer wants 1 million new customers by 2017.

Clancy Yeates and James Eyers Westpac chief executive Brian Hartzer has resisted calls to slash costs out of the country's second biggest bank instead spruiking a boost in tech spending.

ANZ gains enough capital as retail investors benefit

ANZ Bank is pricing the retail component of its capital raising this week.

Clancy Yeates ANZ Bank treasurer Rick Moscati remains confident the bank has raised enough capital to satisfy regulators.

China to invest more in Australian property, services industries, HSBC says

China has already become Australia's second-biggest market for international tourists.

Clancy Yeates The local head of banking giant HSBC has predicted future waves of Chinese investment in Australia will focus more on property and services industries.

Investor interest rate rises could catch out some borrowers

David Ryman has changed his home loan from an investor mortgage to an owner-occupied mortgage.

Clancy Yeates Banks say a growing number of customers are getting in touch to change their investor home loan to an owner-occupied loan, after interest rate rises targeted at landlords revealed gaps in lenders'...

Singapore's DBS eyes Australian expansion

DBS Group chief executive Piyush Gupta says closer integration with Asia is

Clancy Yeates Southeast Asia's biggest bank, DBS Bank, says the squeeze on the margins that big Australian banks make from lending to large corporate clients is here to stay, as it eyes a larger...

Dumping of bank deposit tax made Westpac chairman Lindsay Maxsted's day

Westpac chairman Lindsay Maxsted says the tax on large deposits would have been the

Clancy Yeates, Shaun Drummond, Ben Potter Westpac chairman Lindsay Maxsted says the government's move to scrap plans for a tax on bank deposits has made his day.