Clancy Yeates

Clancy Yeates

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

Singapore's DBS eyes Australian expansion

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.

Westpac moving away from sales targets for staff

Westpac is moving away from using sales targets when assessing staff for pay rises.

Clancy Yeates Westpac is moving away from linking staff pay rises to sales targets, a move unionists are pushing for from rivals ANZ and Commonwealth Bank as they also negotiate employee pay deals.

Bendigo Bank raises housing investor loan interest rates 0.2 percentage points

Bendigo Bank says raising interest rates for housing investors will help it limit loan growth in this part of the market.

Clancy Yeates Bendigo Bank and ME Bank are joining rivals in jacking up interest rates for property investors in response to a regulatory clampdown on lending to landlords.

Mining towns feel pain of rising mortgage arrears: Fitch Ratings

Mining regions are experiencing higher rates of mortgage arrears, Fitch Ratings says.

Clancy Yeates Job cuts in the resources sector are causing more households in mining regions to fall behind on their home loans, highlighting the risk to banks from the commodities slump.

APRA talks down Sydney and Melbourne property lending constraints

APRA believes lending criteria should be consistent across the country, regardless of the hot markets in Sydney and Melbourne.

Clancy Yeates The banking regulator has played down the case for city-specific restrictions on lending in the booming Sydney and Melbourne property markets.

ASX, ANZ, Commonwealth Bank, Qantas bosses brush off market losses

ANZ's Mike Smith says there is still huge potential in China.

Clancy Yeates and Misa Han ANZ's Mike Smith says concerns over China's economy are 'overblown' and yields in local stocks made them a 'no-brainer', while Qantas CEO Alan Joyce argued the low oil price would help stimulate the...

The surprise winners of flexible work at Telstra

Korn Ferry  executive chairman, Australasia Katie Lahey, Telstra chief executive Andy Penn and Sex Discrimination Commissioner Elizabeth Broderick at the Male Champions of Change Business Forum on Tuesday.

Misa Han and Clancy Yeates The wives of Telstra employees are reaping the benefits of the company's flexible work as paid parental leave is becoming the norm for new dads at the telco company.

Big four banks mauled in bear market

Australia's big four banks have each fallen more than 20 per cent from their 2015 peaks.

Clancy Yeates The share prices of each of Australia's major banks are more than 20 per cent down from their 2015 highs, with investors wiping more than $85 billion off their combined market value this year.

Reserve Bank tips slide in ATMs

ATM withdrawals are dropping as consumers use cash less frequently.

Clancy Yeates The Reserve Bank has predicted a decline in the number of automated teller machines, as digital payments allow consumers to make fewer cash withdrawals and avoid pesky fees.

Banks avoid bad debt pain

Credit quality may have peaked for the major banks, analysts say.

Clancy Yeates A key concern among bank investors in recent weeks has been the prospect of provisions for soured loans rising from historic lows.

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Banks target owner-occupiers with interest rate deals

Large discounts are available for owner-occupiers who are strong clients with big loans.

Clancy Yeates As banks put the brakes on lending to property investors, customers buying a house to live in are being offered some of the sharpest deals in the market.

ASIC calls out banks on interest-only home loans

ASIC has uncovered flaws in banks' interest-only home lending.

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.

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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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