Macquarie Group Limited
(ASX:MQG) has provided a first quarter update today which it says was a subdued period compared to the previous three months.
The investment bank says it expects improved results for the 2013 financial year, provided market conditions do not worsen.
Speaking today at the company’s Annual General Meeting, Chief Executive Nicholas Moore says the full year 2013 result is also subject to the cost of its approach to funding and capital, regulatory changes and increased competition in some markets.
Macquarie Group’s full year net profit fell 24 per cent to $762 million in the year to March 31, 2012.
