Macquarie on track for a record year

Macquarie said its performance for the three quarters to December was up slightly on the previous year, following a record December quarter in 2021, driven by continued outperformance in its commodities and global markets division.Chief executive Shemara Wikramanayake said the group’s markets-facing businesses – commodities and global markets and Macquarie Capital – net profit contribution was “substantially up”, buoyed by energy market volatility.

“Commodities including gas and power contributions across all regions partially offset by a lower level of realisations and lower fee and commission income in Macquarie Capital,” Macquarie said. Macquarie Asset Management was down significantly “primarily due to larger green energy sector asset realisations in MAM in the prior corresponding period”.The banking and financial services division grew deposits by 8 per cent to $125.7 billion during the December quarter compared with the September period as interest rates soared and as Macquarie offered market-leading rates to entice savers.

“The home loan portfolio of $105.4 billion increased 4 per cent on 30 September 2022, while funds on platform of $117 billion increased 5 per cent,” it said. Business banking loans grew by a slower 2 per cent to $12.5 billion and car loans were down 10 per cent to $6.6 billion.Connect with

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