Macquarie Group
(ASX:MQG) has announced a half-year net profit after tax of $1.25 billion to September 2017.
This is a 19 per cent increase from the half year ended 30 September 2016 (1H17), and up 7 per cent on the half-year ended 31 March 2017 (2H17).
The bank’s operating income reached $5.4 billion, up 3 per cent from the prior corresponding period.
Macquarie’s annuity-style businesses including Macquarie Asset Management, Corporate and Asset Finance and Banking and Financial Services, representing about 80 per cent of the group’s half-yearly performance, generated a combined net profit of $2.1 billion, up 28 per cent from the prior corresponding period.
The bank also advised today that Glenn Stevens, who comes from 20 years at the Reserve Bank, will be appointed to the group’s board as an independent director, effective 1 November 2017.
Shares in Macquarie
(ASX:MQG) are trading 3.26 per cent higher to $97.29.
