(18 February 2005 – Australia) Macquarie Bank has flagged a very strong second half profit increase on the back of specialist funds, strong equity markets over the past two years and sales of assets.At a briefing for investors and analysts, Macquarie Bank chief executive Allan Moss said all major businesses were performing very well and that the bank had achieved “especially strong” growth in Asia, Europe and the US.
He said the bank now operated in 40 offices in 22 countries.
Moss said the Investment Banking business result would be “substantially up” on the same period last year following a strong deal flow with a good success rate, excellent fund performance and good equity market conditions.
The Banking and Property division was also expected to post a significant profit increase, benefiting from initiatives in international property funds management and US mortgages.