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Macquarie Bank’s Australian mortgage portfolio grew by 47 per cent to $17 billion for the year ended March 31, representing 1 per cent of the Australian mortgage market.
In its full-year result, Macquarie notes an increase in mortgage lending and the acquisition of a 25 per cent stake in aggregator Connective, as well as an expansion of the Macquarie mortgage product suite.
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The lender delivered a net profit of $260 million across its banking and financial services arm, a 7 per cent increase from the 2013 financial year.
Assets under management increased by 23 per cent year-on-year to $427 billion.
Macquarie Group managing director and chief executive Nicholas Moore said the continuing improvement of market conditions had contributed to a significant increase in Macquarie Group’s operating income and profit.
Mr Moore said Macquarie’s annuity-style businesses, including Macquarie Funds, Corporate and Asset Finance and Banking and Financial Services, continued to perform well, with combined net profit in the second half up 12 per cent.
Mr Moore also said international income accounted for 68 per cent of the group’s total income for the 2014 financial year.
"This reflects the favourable impact of foreign exchange movements, the organic growth of the group’s operations in the Americas as well as a number of successful acquisitions in the region in recent years,” said Mr Moore.
He said the group remained “well-positioned with a strong and diverse global platform and specialist skills across a range of products and asset classes”.
“All of this built on the foundation of a strong balance sheet, significant surplus capital, a robust liquidity and funding position, together with a conservative approach to risk management,” he said.
