Macquarie Profit Rises, Dividend Still Below Peak

Macquarie Group reported a full-year profit of A$3.72 billion (US$2.4 billion), representing an increase of nearly 6% and beating analysts’ expectations, driven by strong performance fees in asset management and growth in banking. The company raised its final dividend to A$3.90 per share, though this is still below its peak from two years prior. Macquarie Asset Management's net profit surged 33% year-on-year, while banking and financial services posted an 11% profit rise amid strong growth in home loans and deposits. The company did not offer profit guidance for the new fiscal year, maintaining its conservative outlook. Chair Glenn Stevens emphasized accountability and risk management in response to recent regulatory criticism over compliance failures. CEO Shemara Wikramanayake stated that Macquarie’s conservative approach continues to position the group for strong medium-term performance.