Macquarie Group Limited
(ASX:MQG) has lifted expectations for its annual result ahead of its annual general meeting today.
Australia’s largest listed investment bank says its anticipated result for the 2016 financial year is currently expected to be up from last year.
The company has been aided by improved trading conditions across most of its businesses and believes it is well positioned to deliver a superior performance.
Macquarie says it is seeing the ongoing benefits of cost initiatives, a strong and conservative balance sheet and proven risk management framework and culture.
Macquarie Group reported a net profit of $1.62 billion in the year to the end of March 2015.
