Bulletin: Ratings On Macquarie Group Ltd. Unchanged Following Announcement Of A$1.6 Billion Full-Year Earnings

MELBOURNE (Standard&Poor's) May 8, 2015—Standard&Poor's Ratings Services said today that its ratings on Macquarie Group Ltd. (MGL; BBB/Stable/A-2) and MGL's core operating entity Macquarie Bank Ltd. (MBL; A/Stable/A-1) are unchanged following the announcement by MGL of its full-year ended March 31, 2015, profit of A$1.6 billion. Our outlook on MGL and MBL remains stable. For fiscal 2015, MGL's net profit after tax of A$1.6 billion was up by 27% compared with 2014. The higher earnings in 2015 reflect a continuing trend of improving profitability over the past three years, and are in line with our current rating expectations. In addition, the earnings improvement in fiscal 2015 was well spread, with the net profit contribution from five

...MELBOURNE (Standard & Poor's) May 8, 2015--Standard & Poor's Ratings Services said today that its ratings on Macquarie Group Ltd. (MGL; ###/Stable/A-2) and MGL's core operating entity Macquarie Bank Ltd. (MBL; A/Stable/A-1) are unchanged following the announcement by MGL of its full-year ended March 31, 2015, profit of A$1.6 billion. Our outlook on MGL and MBL remains stable. For fiscal 2015, MGL's net profit after tax of A$1.6 billion was up by 27% compared with 2014. The higher earnings in 2015 reflect a continuing trend of improving profitability over the past three years, and are in line with our current rating expectations. In addition, the earnings improvement in fiscal 2015 was well spread, with the net profit contribution from five of MGL's six key operating divisions demonstrating strong double-digit growth. While the net contribution from Macquarie's securities division was lower than the prior year, this causes us no material concerns at the current rating level. Although lending...

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