Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Macquarie business lending outperforms home loans

Macquarie Bank has grown its business loan portfolio more than its mortgage book over the last quarter after posting a $2 billion profit for the year to 31 March.

Macquarie’s Banking and Financial Services (BFS) business, which includes deposits, home and business lending activities, saw all loan books grow over the three months to 30 June.

The bank’s mortgage book grew by 1 per cent to $28.8 billion while its business banking loan portfolio increased by 3 per cent to $6.1 billion over the quarter.

In its full year profit result earlier this year, Macquarie Group reported a record profit of $2.1 billion for the year to 31 March, up 29 per cent.

Announcing the group’s quarterly earnings last week, Macquarie CEO Nick Moore said the group’s annuity-style business — which represents more than 70 per cent of its total performance — continued to perform well.

Advertisement
Advertisement

PROMOTED CONTENT


Meanwhile, Macquarie Group chairman Peter Warne highlighted at the group’s AGM that the company has profited every single year since its establishment in 1969.

“This record of unbroken profitability is testament to Macquarie’s culture of adapting the portfolio mix to changing market conditions, a strong and proven risk management framework, and a strong balance sheet and capital position,” he said.

As at 30 June this year, the group holds a surplus of $3.5 billion in capital. The Bank's CET1 ratio is 10.3 per cent, while its leverage ratio is 5.3 per cent.

[Related: Macquarie confident it will avoid wrath of regulator]

Macquarie business lending outperforms home loans
mortgagebusiness

Latest News

Banks have approved $41 billion in loans for SMEs, while about 70 per cent of SME loan applications received the green light, ABA figures sh...

The central bank is expecting lenders to exhaust the $200 billion in low-cost funding offered via the term funding facility, helping to acce...

Melbourne last week held its largest number of auctions in two months, according to new data. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Victoria’s surprising appetite for new homes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.