Macquarie empire paying dividends
(15 May 2007 – Australia) Macquarie Bank’s rapid offshore expansion has underpinned its A$1.46 billion full year profit announced today.
The bank now operates in 23 countries, has 3,500 staff located offshore out of 9,400 in total, generating almost half of its income. Overseas staff grew by 39 percent over the year.
The result was up 60 percent on the previous year with earnings per share growing 48 percent to A$5.92.
Overall income increased 49 percent to A$7.2 billion with the international component growing 70 percent and accounting for A$3.46 billion.
Macquarie chief executive Allan Moss said the bank had transitioned over the year from being an Australian institution to a global one headquartered in Australia.
"International income was more than 50 percent of income across most of our businesses, international specialist fund equity raisings were more than triple Australian raisings and international institutions now hold more than 35 percent of Macquarie Bank’s shares," he said.
The bank pointed to strong equity and M&A conditions in Australia and Asia, large asset realisations such as Macquarie Goodman, Dyno Nobel, and US oil and gas assets, and assets under management growth of 41 percent as drivers of the result.
The Investment banking division was up 78 percent, Equity Markets up 39 percent, and the Banking and Property Group up 179 percent.
Moss said 2007 had started strongly and that there was growth across all regions and groups.
The result was up 60 percent on the previous year with earnings per share growing 48 percent to A$5.92.
Overall income increased 49 percent to A$7.2 billion with the international component growing 70 percent and accounting for A$3.46 billion.
Macquarie chief executive Allan Moss said the bank had transitioned over the year from being an Australian institution to a global one headquartered in Australia.
"International income was more than 50 percent of income across most of our businesses, international specialist fund equity raisings were more than triple Australian raisings and international institutions now hold more than 35 percent of Macquarie Bank’s shares," he said.
The bank pointed to strong equity and M&A conditions in Australia and Asia, large asset realisations such as Macquarie Goodman, Dyno Nobel, and US oil and gas assets, and assets under management growth of 41 percent as drivers of the result.
The Investment banking division was up 78 percent, Equity Markets up 39 percent, and the Banking and Property Group up 179 percent.
Moss said 2007 had started strongly and that there was growth across all regions and groups.
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