Australia’s Macquarie Group has reported an attributable net profit after tax of $A2.06bn for the fiscal year 2016, a rise of 29% compared to a year ago.
Compared to the prior corresponding period, net operating income increased 9% to $A10.13bn, while total operating expenses increased 6% to $A7.12bn.
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For the year ended 31 March 2016, net interest and trading income for the period stood at $A4.34bn, a 14% rise from $A3.82bn in the prior year. Fee and commission income increased 3% to $A4.86bn from $A4.74bn.
Total customer deposits increased by 9.8% year-on-year to $A43.6bn from $A39.7bn.
The company’s assets under management at 31 March 2016 reached $A478.6bn, a fall of 2% from $A486.3bn at 31 March 2015.
Macquarie Group managing director and CEO Nicholas Moore said: "FY16 again highlighted the mix and quality of Macquarie’s businesses and its ability to adapt to changing conditions, with five of the six operating groups delivering increased net profit contributions."
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By GlobalDataMacquarie Asset Management posted a net profit of $A1.64bn for the fiscal year 2016, a rise of 13% from a year earlier.
The unit’s base fee income increased 14% to $A1.57bn from $A1.37bn a year ago, while performance fee income increased 4% year-on-year to $A693m.
"Macquarie remains well positioned to deliver superior performance in the medium-term due to its deep expertise in major markets, strength in diversity and ability to adapt our portfolio mix to changing market conditions, the ongoing benefits of continued cost initiatives, a strong and conservative balance sheet and a proven risk management framework and culture," Moore added.
