Bulletin: Ratings On Macquarie Group&Macquarie Bank Unchanged On Half-Year Results

SYDNEY (Standard&Poor's) Oct. 30, 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 half-year results for the period ended Sept. 30, 2015. Our outlooks on MGL and MBL remain stable. The result was in line with our expectations and reflects a continual improving trend in revenue and profitability. Overall the key drivers for the result were an improvement in market conditions, performance related fees and the devaluation of the Australian dollar against other major currencies; the half year net profit of A$1.1 billion was up 58% on the prior corresponding period. We

...SYDNEY (Standard & Poor's) Oct. 30, 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 half-year results for the period ended Sept. 30, 2015. Our outlooks on MGL and MBL remain stable. The result was in line with our expectations and reflects a continual improving trend in revenue and profitability. Overall the key drivers for the result were an improvement in market conditions, performance related fees and the devaluation of the Australian dollar against other major currencies; the half year net profit of A$1.1 billion was up 58% on the prior corresponding period. We note that MGL's annuity style and capital markets facing businesses both performed well (double-digit growth in the operating income of all divisions) during the half year and contributed to the overall result and improvement in net operating...

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