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Macquarie – Full Year Results 2016

On Friday the 6th July 2016 Macquarie Group Ltd (MQG) reported a statutory net profit after tax of $2.06 billion for the full year (FY16). This result was slightly ahead of market consensus and up 29% since FY15.

 

Macquarie Group Limited (MQG) is a unique issuer in the domestic landscape and is self-regulated in its own unique manner. From a credit risk perspective, we believe the group was in a very strong capital position but the self-regulation and lack of transparency make us take a more cautious approach. For more information, please see our recommendations below.

 

  • Macquarie Group Capital Notes (ASX: MQGPA). Click here.
  • Macquarie Group Capital Notes 2 (ASX: MQGPB). Click here.

 

Macquarie Bank Limited (MBL) is a very different company to parent entity, Macquarie Group Limited. The bank is a ring fenced entity which is regulated by APRA in the same way as all other Australian Banks. For more information, please see our recommendations below.

 

  • Macquarie Bank Capital Notes (ASX: MBLPA). Click here.
  • Macquarie Income Securities (ASX: MBLHB). Click here.
  • Macquarie Bank 3.25% 2020. Click here.
  • Macquarie Bank FRN 1.10% 2020. Click here.