MELBOURNE (S&P Global Ratings) Nov. 3, 2023--Macquarie Group Ltd. (MGL) should maintain its sound credit profile and ability to fund business growth despite a A$2 billion share buyback. MGL (BBB+/Stable/A-2), the nonoperating holding company for the Australia-headquartered diversified financial services group, today announced net profit of A$1,415 million for the six months ended Sept. 30, 2023. While this was down 51% on the previous corresponding period, ongoing loan growth and improved margins within the banking business partly offset weaker revenue from the group's asset management, commodities, and capital market businesses. We believe the group's global footprint will underpin ongoing growth, with 65% of income from outside Australia in the past six months. The consolidated group's capital surplus of A$10.3 billion
