Clancy Yeates

Clancy Yeates

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

Andrew Thorburn, NAB's new straight shooter with a messianic touch

Clancy Yeates AS chief executive of Bank of New Zealand in 2012, Andrew Thorburn did something highly unusual for a bank boss.

Financials

John Brogden quits fund managers' lobby group

John Brogden leaves the Financial Services Council after five years to head the Australian Institute of Company Directors.

Clancy Yeates John Brogden will step down as chief executive of the Financial Services Council at the end of this year, after five years leading the wealth management lobby group.

Banks

S&P says CBA's financial planning scandal unlikely to affect credit rating

The ratings agency doesn't expect the compensation to affected customers to be large enough to affect the bank's credit profile.

Clancy Yeates The Commonwealth Bank's credit rating is unaffected by the customer compensation scheme the bank has opened after a damning Senate inquiry into its financial planning arm, Standard & Poor's says.

Banking

Westpac urged to close 200 branches

St George.

Clancy Yeates Westpac's 'multi-brand' strategy is facing a fresh round of market criticism.

Courts

Bank battle over ABC Learning finally settled

A move to settle b bank creditors should allow other creditors of ABC Learning to be paid.

Clancy Yeates Australia's big banks have finally settled in a legal battle over a move that put them at the front of the creditor queue when childcare giant ABC Learning collapsed in 2008.

Banking

Asia makes ANZ's double play 'unrealistic', says analyst

ANZ's targets for return on equity are being made harder to reach by its Asia foray.

Clancy Yeates ANZ Bank's plan to sharply lift its Asian presence while also raising group-wide returns has been branded "unrealistic" by a top banking analyst.

Banking

Financial advice: CBA CEO Ian Narev defends reputation, says sales targets will be retained

CBA and logo.

Clancy Yeates Commonwealth Bank will continue to use sales targets as a key incentive for branch staff bonuses, sparking union criticism.

Banking

CBA chief Ian Narev on notice over compensation

Ian Narev

Clancy Yeates Corporate regulator puts Commonwealth Bank on notice over its latest compensation scheme.

Houses, dollar to fall warns Reserve Bank

Glenn Stevens: “People should not assume that [house] prices always rise. They don’t; sometimes they fall.”

Clancy Yeates and Peter Martin The Reserve Bank has warned home owners that "people should not assume that prices always rise" when deciding to buy property.

RBA governor Glenn Stevens warns property investors to tread with caution

house

Clancy Yeates and Toby Johnstone Reserve Bank governor Glenn Stevens has sent property investors a blunt warning to "take care" in Sydney's booming housing market, saying slower growth in house prices would be good for the economy.

Banking

NAB thinking about offloading custody assets

NAB logo

Clancy Yeates National Australia Bank has signalled it is open to offloading its custody business, in a sign it may also be putting other non-core assets under the microscope.

Banking

Banks could face pressure to set aside capital after Commonwealth Bank scandal

CBA.

Clancy Yeates The scandal engulfing the Commonwealth Bank's financial planning arm highlights the risk that Australian banks may be forced to hold billions more in funds to deal with internal failures, new...

Banking

Westpac closing in on mortgage market rivals

Westpac has lagged its 'big four' rivals for mortgage growth over the past year.

Clancy Yeates Westpac's push to claw back share in the $1.3 trillion mortgage market appears to be bearing fruit, after its home loan book grew more quickly than the industry average last month.

Banking

Big four on top of the world for profitability, says BIS

The big four banks of Australia.

Clancy Yeates Australia's major banks are the most profitable in the developed world, according to the BIS.

Inquiry

Senate inquiry recommends industry foot the bill for ASIC

Clancy Yeates The Senate economics committee report calls for sweeping changes to ASIC's funding for complaints.

Conditions ideal for ripe house prices, but growth tipped to cool in the year ahead

Auction sign.

Clancy Yeates Economic conditions supporting house prices are ''as good as they get'' and average house price growth will cool to between 2 per cent to 3 per cent year on year, according to a top Australian...

Banks

NAB cranks up broker commissions

NAB signs

Clancy Yeates National Australia Bank is stepping up its attempt to grab a bigger slice of the $1.3 trillion home loan market, introducing a new trailing commission as part of a move to write more loans through...

Banking

Asian banks boost presence in institutional lending market

Banking.

Clancy Yeates Australia's major banks face growing international competition for big business customers, as Japanese and Chinese lenders intent on regional expansion increase their lending to local institutional...

Treasury calls for stronger disaster defences

Bushfire

Clancy Yeates Governments could curb the soaring cost of home insurance by erecting stronger defences against natural disasters, such as constructing firebreaks and flood levees, or introducing tougher building...

Banking

Float of Lloyds offshoot TSB bodes well for NAB's chances of selling banks

Clancy Yeates NAB's prospects of selling its British banking business receives a boost with float of rival lender.