Company News Summary
Macquarie Group Provides 2013 Operational Briefing
Original announcement: 2013 Operational Briefing Media Release
Macquarie Group provided an update on business activity in the third quarter of the financial year ending 31 March 2013 (3Q13) and updated the outlook for the financial year ending 31 March 2013 (FY13). Market conditions have shown some signs of improvement, however client activity remains subdued for capital markets facing businesses. Annuity-style businesses (Macquarie Funds, Banking and Financial Services and Corporate and Asset Finance) continue to perform well with combined 3Q13 net profit contribution up on pcp and 2Q13. Whilst the group's capital markets facing businesses (FICC, Macquarie Securities Group and Macquarie Capital) continued to face subdued market conditions, combined 3Q13 net profit contribution was up strongly on both a weak pcp and 2Q13. At 31 December 2012, group capital surplus under Harmonised Basel III was $3.3bn and the common equity Tier 1 ratio for Macquarie Bank was 11.3%.
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