Investor Presentaiton
Overview of Macquarie
Operating Groups
1Q24 Update
Outlook
Appendix
Banking and Financial Services
Result
•
FY23
FY22
$Am
$Am
Net interest and trading income¹
Fee and commission income
2,520
1,972
505
457
Wealth management fee income
341
304
Banking and lending fee income
164
153
Net credit and other impairment (charges)/reversals
(34)
22
Other (expenses)/income²
(30)
10
•
Net operating income
2,961
2,461
Total operating expenses
Net profit contribution
Funds on platform ($Ab)
Loan portfolio³ ($Ab)
(1,760)
(1,460)
1,201
1,001
•
123.1
118.6
127.7
110.2
BFS Deposits4 ($Ab)
Headcount
129.4
98.0
3,820
3,359
Net interest and trading income of $A2,520m, up 28% on FY22
22% growth in the average loan portfolio and 31% growth in average BFS
deposit volumes
Margin improvement reflecting the benefit of a rising interest rate
environment, partially offset by ongoing lending competition and changes in
portfolio mix
Fee and commission income of $A505m, up 11% on FY22
3% growth in average funds on platform resulting in higher administration fees,
together with higher volume-driven lending fee income and a reclassification of
platform related fee income previously reported as net interest income
Net credit and other impairments of $A34m, compared to a reversal of $A22m
in FY22
Higher net credit impairment charges due to deterioration in the
macroeconomic outlook and release of COVID-19 overlays in the prior year
Other expenses of $A30m in FY23 primarily due to revaluations of
equity investments
Total operating expenses of $A1,760m, up 21% on FY22
-
Higher expenses driven by increased technology investment, additional
headcount to support business growth, and compliance and
regulatory initiatives
Higher inflation environment reflected in remuneration increases
1. Includes net internal transfer pricing on funding between Group Treasury and BFS that is eliminated on consolidation in the Group's statutory P&L. 2. Includes share of net losses from associates and joint ventures, internal management revenue and other income. 3. Loan portfolio comprises home loans, loans
to businesses, car loans and credit cards. 4. BFS deposits include home loan offset accounts and exclude corporate/wholesale deposits.
O Macquarie Group Limited
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