Macquarie Group has provided an update on its third-quarter trading performance, reporting that its overall net profit for the nine months to 31 December 2024 was broadly in line with the prior year. The group’s annuity-style businesses—Macquarie Asset Management and Banking and Financial Services—delivered a substantially higher net profit contribution compared to the previous year, while its markets-facing businesses experienced a decline.
The performance of the markets-facing businesses was affected by subdued conditions in certain commodity markets and the timing of income recognition on North American Gas and Power contracts. However, this was partially offset by an increase in fee and commission income within Macquarie Capital. The annuity-style businesses benefitted from higher performance fees and investment income, alongside continued volume growth and lower operating expenses in Banking and Financial Services.
Macquarie maintains a strong financial position, with a group capital surplus of $8.5 billion as of 31 December 2024, exceeding regulatory requirements. The bank’s Common Equity Tier 1 capital ratio stood at 12.6%, while its liquidity coverage ratio remained high at 196%.
Looking ahead, Macquarie has reiterated its cautious approach, citing global economic conditions, interest rates, market volatility, and regulatory developments as key factors influencing its short-term outlook. The company emphasised that its diversified business model, strong balance sheet, and disciplined risk management framework position it well to navigate the current environment.
