Investor Presentaiton
Overview of Macquarie
Operating Groups
1Q23 Update
Outlook
Appendix
Banking and Financial Services
Result
FY22
FY21
$Am
$Am
Net interest and trading income¹
Fee and commission income
1,972
1,746
457
419
Wealth management fee income
304
274
Banking and lending fee income
153
145
Credit and other impairment reversals/(charges)
22
(115)
Other income²
10
28
Net operating income
2,461
2,078
Total operating expenses
Net profit contribution
Funds on platform ($Ab)
Loan portfolio³ ($Ab)
(1,460)
(1,307)
1,001
771
118.6
101.4
110.2
89.1
BFS Deposits ($Ab)
Headcount
98.0
80.7
3,359
2,986
Net interest and trading income of $A1,972m, up 13% on FY21
23% growth in the average loan portfolio and 19% growth in the average BFS
deposit volumes
Fee and commission income of $A457m, up 9% on FY21
24% growth in average platform FUA growth resulting in higher administration and
adviser fees
Decrease in credit and other impairment charges driven by partial release of COVID-19
overlays. Credit provisioning levels remain prudent with the combined downside
macroeconomic scenarios having a higher weighting than the upside scenario
Other income down due to revaluation of an equity investment in the prior year
Total operating expenses of $A1,460m, up 12% on FY21
-
higher total operating expenses driven by higher average headcount, investment in
technology and digitisation to support business growth and to meet
regulatory requirements
partially offset by lower brokerage, commission and fee expenses largely due to the
cessation of grandfathered commission payments to third party advisors in line with
legislation. A corresponding benefit, passed on to customers, is reflected in Net interest
and trading income
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
72View entire presentation