Macquarie post record profits
(6 May 2016 – Australia) Australia’s 5th largest financial institution, Macquarie Group, beat analyst expectations to record its largest ever profits.
The investment bank confirmed it earned a record result in 2015-16, with A$2.06 billion annual profit for the year to 31 March, a 29 percent increase.
That result surpasses its previous annual profit high of A$1.8 billion delivered amid the global financial crisis in 2008.
"The group remains well positioned, with a strong and diverse global platform and proven deep expertise across a range of products and asset classes," said the investment bank’s chief executive Nicholas Moore.
"This is built on the foundation of a strong balance sheet, surplus capital, a robust liquidity and funding position and a conservative approach to risk management which is embedded across all operating groups,” Moore said.
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