From Yahoo Finance: 2025-05-08 18:22:00

Top Australian investment bank Macquarie reported a rise in annual profit due to an asset sale, focusing on its home market amidst global economic uncertainty. CEO Shemara Wikramanayake highlighted the resilience of Australia’s economy, with the company’s BFS unit showing strong growth in the mortgage market. Shares rose 4.3%.

Macquarie’s profit increased 5.5% to A$3.72 billion, slightly beating expectations, with the BFS unit’s profit jumping 11%. Analysts called the result “in-line”. Wikramanayake noted potential slowdown in mergers but potential benefit from energy commodities trading volatility. The bank strategically realigned its North American operations, focusing on its core businesses.

The company attributed higher net interest income to growth in loan and deposit portfolios, but faced margin pressure from lending competition. Assets under management slightly increased to A$941 billion. Macquarie sold its U.S. and European public asset units to Nomura in April. The bank remains optimistic about its prospects in the face of global economic challenges.

Read more: Australia’s Macquarie reports FY profit rise, signals domestic upside