Macquarie Group confirm profit guidance to be 'slightly down'

Company News

by Rachael Jones

Macquarie Group (ASX:MQG) report that their operating groups were performing in line with expectations, but still sees the full-year result "slightly down" on 2018-19.

Their contribution in the first quarter of the 2020 financial year (1Q20) is broadly in line with the first quarter of the 2019 financial year (1Q19) and slightly down on the prior quarter (4Q19).

They have a group capital surplus of $5 billion.

The AGM's chairman's address comes as banking regulator APRA may impose tougher funding requirements on Macquarie Bank and others after questions surrounding how they reported the stability of their funding.

Shares in Macquarie Group (ASX:MQG) closed 0.3 per cent higher at $129.31.

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