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Macquarie posts $678m half-year profit

Macquarie posts $678m half-year profit
Macquarie's banking and financial services (BFS) business has contributed $141 million to the company’s half-year profit.

In a statement to the ASX on Friday, Macquarie reported a 35 per cent increase in its first half-yearly results ending 30 September 2014.

However, the result was down 11 per cent on the second half, ending 31 March 2014.

Macquarie Group managing director and chief executive Nicholas Moore said the six months to 30 September 2014 saw Macquarie’s BFS division “continue to perform well” along with its funds and corporate and asset finance businesses.

“BFS [has] delivered a net profit contribution of $141 million in 1H15, up 27 per cent on [the first half of 2014],” a statement from Macquarie said.

“Macquarie platform assets under administration increased by three per cent during the half [year] to $41.7 billion, while the Australian mortgage portfolio increased 16 per cent to $19.8 billion, representing approximately one per cent of the Australian mortgage market,” it said.

“BFS grew retail deposits by six per cent during the half [year] to $35.3 billion, while average business banking deposit and loan volumes increased 13 per cent and 10 per cent respectively in [the first half of 2015],” Macquarie said.

Macquarie also said its corporate and asset finance (CAF) group delivered a net profit of $468 million in the first half of the year, up 18 per cent on the previous year.

“CAF’s asset and loan portfolio increased eight per cent to $27.5 billion during the half,” Macquarie said.

“CAF continued to expand its asset finance portfolio to $17.5 billion, mostly through the continued expansion of the motor vehicle portfolio and acquisitions made in the aircraft leasing portfolio,” it said.

“Securitisation activity continued in 1H15, with $2 billion of motor vehicle and equipment leases and loans securitised,” Macquarie said.

Author: Scott Hodder
Source: Investor Daily


Last modified onSunday, 02 November 2014 22:28

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