Macquarie Group Limited
(ASX:MQG) has told the ASX it expects improved market conditions to facilitate an improved annual profit in fiscal 2014.
A strategy of de-risking existing investment banking operations by growing its exposure to more reliable businesses has lead Macquarie to forecast a $1.2 billion net profit for the year to March 31, according to a poll of three analysts.
Macquarie Group reported a net profit of $503 million in the six months to the end of September 2013.
