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Macquarie reports ‘softer’ trading conditions

Macquarie Group’s earnings in the June quarter were up on the previous corresponding period but “trading conditions softened during the quarter”.

In the banking and financial services division, the home loan portfolio grew 8 per cent to A$96.9 billion year-on-year. This is a much lower level of growth than the group has reported in recent years. 

The BFS business banking loan portfolio grew 3 per cent or $11.9 billion. The car loan portfolio fell 10 per cent to $7.9 billion. Funds on the BFS platform were down 8 per cent to $109.3 billion, with net inflows offset by market falls.

The earnings contribution from the commodities and global markets division at Macquarie Capital were up “slightly” year-on-year.

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