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Macquarie Group net profit ‘significantly’ up for 1Q22

By Neil Griffiths
 — 1 minute read

Macquarie Group has reported that its net profit contribution for the first quarter of its 2022 financial year is “significantly” up on Q1 2021.

On Thursday, the company announced that Macquarie Asset Management (MAM) had $693.2 billion in assets under management at 30 June 2021, up 23 per cent on 31 March 2021.

Macquarie Group attributed the healthy spike to its acquisition of US company Waddell & Reed in April, which also helped boost its assets under management total to $495.2 billion, an increase of 35 per cent from last year.

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Its banking and financial services (BFS) combined net profit contribution was also up, reporting total deposits of $82.4 billion, a 2 per cent increase on last year.

During an address this week, Macquarie Group chairman, Peter Warne also reiterated the company’s increased focus on ESG after committing to net-zero emissions in May.

Mr Warne said Macquarie is committed to four areas – strengthening support for clients and portfolio companies to manage the transition to net zero, increasing the group’s investment in climate mitigation and adaptation solutions, aligning the emissions of its financing activities with the objective of enabling and accelerating the world’s pathway to net zero by 2050 and continuing to reduce the emissions of the group’s business operations.

“Macquarie, with its strong heritage in infrastructure, energy and commodities, has a differentiated set of capabilities to help meet that demand,” Mr Warne said.

 

Macquarie Group net profit ‘significantly’ up for 1Q22
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