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Macquarie’s mortgage portfolio jumps by 14%

The lender has boosted its home loan portfolio by $4 billion, with its profits also increasing by 9 per cent, according to its latest financial results.

Macquarie Bank has expanded its mortgage book by 14 per cent, bringing its total mortgage portfolio to $32.7 billion for the 12 months ending 31 March 2018 (FY18).

The lender’s home loan portfolio growth now represents approximately 2 per cent of the Australian mortgage market.

The bank’s net profits for its banking and financial services (BFS) division also grew, rising by 9 per cent, from $513 million in FY17 to $560 million in FY18.

“The improved result reflects increased income from growth in average Australian loan, deposit and platform volumes, as well as the non-recurrence of expenses recognised in the prior year,” Macquarie said.

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The bank’s capital equity ratio sits at 11 per cent, 3 per cent above the Australian Prudential Regulation Authority’s (APRA) 8 per cent minimum.

Macquarie Group’s total net profits also increased, jumping by 15 per cent from FY17 to $2.56 billion (after tax).

The group also reported a net operating income of $10.9 billion, up by 5 per cent on FY17, while its operating expenses also rose, increasing by 3 per cent to $7.45 billion in the same period.

Reflecting on the group’s results, Macquarie Group managing director and chief executive officer Nicholas Moore said: “FY18 highlighted the strength of Macquarie’s global platform, the diversity of its business mix and ongoing ability to adapt to changing market conditions and client needs.”

Mr Moore added: “The group remains well positioned, with a strong and diverse global platform and deep expertise across a range of products, markets and asset classes. 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.”

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[Related: Macquarie offloads shares in YBR]

Macquarie’s mortgage portfolio jumps by 14%
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Charbel Kadib

Charbel Kadib is the news editor on the mortgages titles at Momentum Media.

Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.

You can email Charbel on: This email address is being protected from spambots. You need JavaScript enabled to view it.

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