Macquarie Group reported net profits of AUD 4.7bn ($3.3bn) for FY 2022, up 56% YoY. Profit for the half year ending March 2022 was at AUD 2.7bn ($1.9bn), up 30% over the previous half-year. The group benefitted from its “Markets-facing activities”, which delivered a combined net profit contribution of AUD 5.3bn ($3.8bn), up 92% YoY during the full year. The markets facing activities include its major Commodities and Global Markets (CGM) businesses which saw a net profit contribution of AUD 3.9bn ($2.8bn), up 50% YoY. It said that the CGM results were driven by increased revenue across commodities thanks to increased client hedging and trading activity due to high volatility and commodity price movements. Also Macquarie Capital Macquarie Capital delivered a net profit contribution of AUD 2.4bn ($1.7bn), up 269% YoY thanks to “significantly higher fee and commission income” due to M&A and debt capital markets activities, offsetting lower equity fee income. The group also saw an AUM increase of 37% to AUD 774.8bn ($550.3bn). The group’s harmonized CET1 ratio was at 14.6%.
