Clancy Yeates

Clancy Yeates

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

ANZ's Phil Chronican to step down, Mark Whelan to become CEO Australia

Clancy Yeates Commercial banking boss Mark Whelan will take over as ANZ Banking Group's Australian chief executive.

Banks under pressure to pass on rate cut to small business

Loyalty is no guarantee your bank will talk to you.

Clancy Yeates Three of the big banks will cut interest rates for business customers in line with this month's official reduction, amid political pressure for lenders to pass on cheaper credit costs to businesses.

Big banks cut SME loan rates as Glenn Stevens calls for more competition

Clancy Yeates Three of the big banks will cut interest rates for business customers in line with this month's official reduction, amid political pressure for lenders to pass on cheaper credit costs to businesses.

Australia's approach to carbon emissions causes concern among foreign investors

Overseas investors are concerned about Australia's approach to carbon emissions and corporate social responsibility.

Clancy Yeates Australia's approach to carbon emissions is making some international investors increasingly "reserved" towards the country, says the local head of French lending giant BNP Paribas.


Commonwealth Bank shares 'to reach $99 in a year'

In contrast to the market's recent love affair with bank shares, some fund managers are more bearish on Commonwealth Bank's stock.

Clancy Yeates and James Eyers Macquarie analysts are forecasting Commonwealth Bank shares are on track to trade within a whisker of $100 in a year's time, saying yield-hungry investors will be drawn to its rising dividends and...


Commonwealth Bank brushes off loan crackdown

Despite bemoaning the low levels of confidence chief executive Ian Narev said the economy was 'fundamentally sound.'

Clancy Yeates The Commonwealth Bank has moved to reassure investors that a looming crackdown on risky lending to landlords will not restrain the home loan business that powers its earnings, after delivering a $4.


Investment housing loans soar, and set to rise further after Reserve Bank's rate cut

10 Bowler Street, Hawthorn East

Gareth Hutchens and Clancy Yeates Loans for investment housing skyrocketed almost 20 per cent in the the year to December, and economists warn they will surge higher after the Reserve Bank's surprise interest rate cut to a record low...


Commonwealth Bank's profit jumps to $4.62b, but lender rings alarm bell for economy

Commonwealth Bank has seen earnings jump, but warns the economy needs a

Clancy Yeates The Commonwealth Bank's first-half profits have swelled 8 per cent to $4.62 billion, but Australia's biggest bank sees "a significant threat" for the economy.


Australians won't spend their housing wealth

Conditions in the housing market made the decision to cut rates difficult.

Clancy Yeates It’s becoming clearer that surging house prices don't encourage us to go out and spend like they used to.


Local currency settlement opens new trade doors with China, says RBA's Glenn Stevens


Clancy Yeates Reserve Bank governor Glenn Stevens says a move to establish an official clearing bank for the local renminbi market should fuel growth in direct trade between the currencies of Australia and China.


Commonwealth Bank tipped to deliver $4.56b half-year profit

Back to school: CBA will beef up education standards for advisers.

Clancy Yeates The country's largest bank is expected to deliver a record interim result on Wednesday, helped by a pick-up in credit growth, falling funding costs and low bad debts.


ANZ passes on full RBA interest rate cut

ANZ is the last of Australia's major banks to pass on the RBA's cut to the official cash rate.

Clancy Yeates ANZ Bank will pass on the Reserve Bank's 0.25 percentage point interest rate cut to customers in full, saying its funding costs had eased in the second half of last year.

CBA, Westpac customers wait on mortgage interest rate cuts

Home loan customers will have to wait to reap the benefits of interest rate cuts.

Clancy Yeates and James Eyers Commonwealth Bank of Australia and Westpac have announced standard variable rate cuts but they will not take effect until February 20.


Westpac, CBA pass on RBA rate cut

Westpac has announced a 0.28 per cent cut on its variable rate.

James Eyers and Clancy Yeates The country's two biggest banks have cut interest rates for home loan customers, with the Commonwealth Bank matching the Reserve Bank's reduction and Westpac giving customers a slightly bigger rate...


Punters bet on banks after Reserve Bank cuts interest rate

Big four

Clancy Yeates Commonwealth Bank shares hit a new record high of $90.67 after the Reserve Bank cut the cash rate to 2.25 per cent on Tuesday.


NAB's Asia push hit by Daryl Johnson exit


Clancy Yeates National Australia Bank's executive responsible for driving the lender's push into Asia, Daryl Johnson, is leaving the bank slightly more than a year after he was appointed to the job.


New Westpac chief Brian Hartzer streamlines management structure

Clancy Yeates New Westpac chief executive Brian Hartzer has abolished his old position and elevated the bank's top technology role in his first day in the job, as he seeks to put his stamp on the country's second...

ANZ claims its tax paid in full


Clancy Yeates ANZ Bank has weighed into the political debate about corporate tax dodging, telling a Senate committee that 29.

More tough calls await Brian Hartzer to extend Westpac's run

The veteran retail banker, who was born in America and is also an Australian citizen, made his name running ANZ's retail banking arm in the mid 2000s.

Clancy Yeates When Gail Kelly called Brian Hartzer to offer him a job in 2011, he was in the middle of an overhaul of the Royal Bank of Scotland, Britain's second-biggest bank.


2015 BusinessDay Economic Survey: Economists temper banks' alarm over tougher capital rules


Clancy Yeates Bank warnings that tougher capital rules threaten to damage the economy have failed to convince several leading economists, who say the impact will be minor at best.