Clancy Yeates

Clancy Yeates

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

Banking

Scramble for customers a threat to banking profits

Gavin Slater

Clancy Yeates NAB's head of personal banking says fierce competition is pressuring profit margins.

Banking

Banks feeling the squeeze in mortgage market

Detached housing

Clancy Yeates National Australia Bank's head of personal banking says fierce competition in the $1.2 trillion mortgage market is pressuring profit margins from home lending, as lenders scramble to win customers.

Online saver accounts hit by lack of competitive interest

online

Clancy Yeates Interest rates on online saver accounts are drifting down despite no official moves from the Reserve Bank, in a sign banks are competing less fiercely for deposits.

Banking

Size matters for the banks, for better and perhaps for worse

The International Monetary Fund says the big four banks should be forced to hold more capital.

Clancy Yeates Few companies have the power to affect every facet of Australia's financial system like the big four.

Banking

Shoppers, business and traders hit by CBA glitch

Clancy Yeates Commonwealth Bank customers were left stranded on Tuesday after a computer meltdown prevented people from withdrawing cash from ATMs, using EFTPOS, or accessing their accounts online.

Banks

ANZ strengthens China banking links

ANZ

Clancy Yeates One of China's most powerful banks is seeking to strike better deals when its invests in Australia, as part of a global push to improve the quality of its lending.

Banking

Millions being 'skimmed' at ATMs

BANK.  AFR.  981230.  PIC BY GABRIELE CHAROTTE.  GENERIC AND EFTPOS AND CASH CARD AND ATM BANK AND BANKING

Clancy Yeates 'Nightmare' scenario of using new techniques while customers withdraw cash from ATMs.

Banking

ANZ in deal with China Development Bank

ANZ

Clancy Yeates ANZ Bank aims to provide Australian companies easier access to Chinese government-controlled capital, under a widened agreement with the powerful China Development Bank.

Legal

What 'skimming' costs Australians

ATM

Clancy Yeates Millions of dollars are stolen each year through the 'skimming' of people's bank details when they are making a transaction.

Banking

AMP makes pitch to stymie big four's dominance

AMP.

Clancy Yeates Wealth giant AMP is urging the government to consider higher capital charges for Australia's big four.

Is your superannuation under supervision?

Clancy Yeates dinkus

Clancy Yeates Why do Australians pay so much for the management of their retirement savings?

Banking

Australia's big banks zero in on free trade deals in Asia

Clancy Yeates The banks expect to benefit from closer trade ties in the region via increased demand for services.

Credit

Applications for credit cards and personal loans at highest level since GFC, says Veda

Credit cards

Clancy Yeates Applications for credit cards and personal loans have risen to their highest since the GFC.

Banking

Commonwealth Bank hopes business app will win new customers

Generic pic of a man using a tablet computer

Clancy Yeates CBA says app will give companies information previously unavailable without number-crunching.

FOFA

Banks fall in behind Coalition's financial advice reforms

Big four banks

Clancy Yeates Australia's big banks are throwing their support behind the government's plan to roll back parts of Labor's financial advice reforms.

Loans

Westpac reluctant to get into mortgage price fight

AFR 30 May 13 The Annual Stockbrokers Conference, Sydney. Brian Hartzer, Westpac . Pic by Sasha Woolley

IMG_6280 copy.jpeg

Clancy Yeates Westpac's Australian boss Brian Hartzer says the bank's move to grow more aggressively in home loans and credit cards is starting to pay off, as household borrowing picks up.

Banking

Former Westpac banker David St Pierre permanently banned

Regulation

Clancy Yeates Banker who sold mortgages to 'elderly or vulnerable' customers permanently banned.

Mortgages

Former Westpac banker banned for selling loans to 'vulnerable' customers

Elderly

Clancy Yeates A former Westpac banker who sold a 30-year mortgage to a 98 year-old woman has been banned from working in financial services by the corporate regulator.

Home loan borrowers with CUA choose fixed rates

Clancy Yeates CUA says a near-record proportion of customers are taking out fixed-rate home loans.

Hike

Fixed-rate mortgage demand indicates only way is up for interest rates

iStockphoto. SHD Investor. 25 February 2010. Mortgage Document, Loan, Real Estate, Application Form, Finance, House Key, Contract, Investment

Clancy Yeates The country's biggest credit union, CUA, says a near record proportion of its customers are taking out fixed-rate home loans, a sign more borrowers believe the next move in official interest rates...