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Macquarie saw net profit of $3.7 billion for the year to 31 March 2025 (FY24–25), up 5 per cent on the year ended 31 March 2024 (FY23–24).
The home loan portfolio grew to a total of $141.7 billion, up 19 per cent from 31 March 2024. This represents 5.9 per cent of the Australian mortgage market.
Brokers were instrumental in Macquarie’s success as 94 per cent of all home loans were originated by a third party.
“Our share of the home loan market continues to grow strongly, thanks in large part to our strong partnership with the broker industry,” said Macquarie’s head of broker sales, Wendy Brown.
“We think brokers play a crucial role in the home loan market and we’ll continue to be vocal about the value they offer Australian households – particularly by providing greater choice and competition.”
Mortgagors reportedly flocked to the lower loan-to-value ration (LVR) loans on offer at the bank.
Business banking also reported growth, though not as strong as home loans. Books grew to a total of $16.7 billion, up 6 per cent from 31 March 2024.
Asset finance, however, saw very positive growth across all industries, reaching a total of $7.6 billion, up 17 per cent from the $6.5 billion total as of 31 March 2024.
Macquarie noted that this area was particularly strong in shipping finance.
Operating income reached $3.2 billion, up 1 per cent from FY23–24. Net profit, on the other hand, was up $1.4 billion, up 11 per cent on FY23–24.
Digital banking has helped to drive strong profit growth. Investment in digital solutions enhanced client experience.
“Results [are] up 11 per cent, we’ve had an ongoing track record of growth of that business for many, many years now, delivered $1.38 billion this year. And basically, that is all being driven by our digital banking offering, which is a very customer experience-focused offering,” said Shemara Wikramanayake, Macquarie’s managing director and CEO.
Wikramanayake said the majority of income made by the bank is through “repeat client business”.
Technology has become a top priority and spending is up from $2.2 billion to $2.3 billion, helping to drive scalability and growth.
“I think one of the things that Greg and the team have worked on hard in recent times is the, is the expense base, the platform that supports that business, trying to get that platform into a point where it’s scalable to support the growth of business,” Macquarie chief financial officer Alex Harvey said.
“We’ve seen the benefit of the investment coming through over the last 12 months. So, expenses down $141 million … Importantly, [that’s] a reflection of the fact that we’ve invested in the data [and] removed manual processes. We’re investing in the technology. We’re investing in automation to support the to support the scalability of that business.”
[Related: Brokers ‘fundamental’ in Macquarie’s strong loan growth]
