DOCSLIB.ORG

MGL, Macquarie Group, Real Estate and Has a Deep Knowledge of Asia-Pacific Financial the Group Or the Company) Is a Global Financial Services Markets

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
MGL, Macquarie Group, Real Estate and Has a Deep Knowledge of Asia-Pacific Financial the Group Or the Company) Is a Global Financial Services Markets Macquarie Annual Group 2016 Report 2016 Annual Report Macquarie Group Year ended 31 March 2016 MACQUARIE GROUP LIMITED ACN 122 169 279 The Holey Dollar In 1813 Governor Lachlan Macquarie overcame an acute currency shortage by purchasing Spanish silver dollars (then worth five shillings), punching the centres out and creating two new coins – the ‘Holey Dollar’ (valued at five shillings) and the ‘Dump’ (valued at one shilling and three pence). This single move not only doubled the number of coins in circulation but increased their worth by 25% and prevented the coins leaving the colony. Governor Macquarie’s creation of the Holey Dollar was an inspired solution to a difficult problem and for this reason it was chosen as the symbol for Macquarie Group. 2016 Annual General Meeting Macquarie Group’s 2016 Annual General Meeting will be held at 10:30am on Thursday, 28 July 2016 at the Sheraton on the Park (Grand Ballroom), 161 Elizabeth Street, Sydney NSW 2000. Details of the business of the meeting will be contained in the Notice of Annual General Meeting, to be sent to shareholders separately. The Macquarie name and Holey Dollar device are registered trade marks of Macquarie Group Limited ACN 122 169 279. Macquarie Group Limited and its subsidiaries 2016 Annual Report macquarie.com Annual Report Contents Financial Highlights 2 Chairman’s and Managing Director’s Letter 4 Operating and Financial Review 6 Corporate Governance Summary 19 Diversity Report 21 Environmental, Social and Governance Report 25 Risk Management Report 33 Macquarie Group Foundation Review 52 Directors’ Report 53 – Schedule 1 – Directors’ experience and special responsibilities 59 – Schedule 2 – Remuneration Report 64 – Schedule 3 – Auditor’s independence declaration 101 Financial Report 102 – Income Statements 103 – Statements of comprehensive income 104 – Statements of financial position 105 – Statements of changes in equity 106 – Statements of cash flows 108 – Notes to the financial statements 109 – Directors’ declaration 217 – Independent auditor’s report 218 Ten year history 219 Additional Investor Information 220 Glossary 222 1 Macqu arie Group Limited and its subsidiaries 2016 Annual Report macquarie.com Financial Highlights FY16 Net Profit FY16 Operating Income $A $A 2,063million 10,135 million Up 29% on FY15 Up 9% on FY15 $A million 1H 2H $A million 1H 2H 2,40024002400 12,000 2,00020002000 10,000 1,60016001600 8,000 1,20012001200 6,000 800 4,000 400 2,000 000 FY13 FY14 FY15 FY16 0 FY13 FY14 FY15 FY16 FY16 Earnings Per Share FY16 Ordinary Dividends Per Share $A $A 6.19 4.00 (40% franked) Up 23% on FY15 Up 21% on FY15 $A 1H 2H $A 1H 2H 7.00 4.00 3.50 6.00 3.00 5.00 2.50 4.00 2.00 3.00 1.50 2.00 1.00 1.00 0.50 0 FY13 FY14 FY15 FY16 0.0 FY13 FY14(1) FY15 FY16 (1) In 2H14 eligible shareholders also benefited from the SYD distribution in January 2014 which comprised a special dividend of $A1.16 (40% franked) and a return of capital of $A2.57 per share. 2 FY16 Net Profit Contribution(2) FY16 Return on equity By Business Type Annuity-style Capital markets facing 71% 29% 14 .7% Up from 14.0% in FY15 Assets under management as at 31 March 2016 $A billion (2) Net profit contribution is management accounting 479 profit before unallocated corporate costs, profit share and income tax. Annuity-style businesses include From $A486 billion Macquarie Asset Management, Corporate and Asset Finance and Banking and Financial Services. at 31 March 2015 Capital markets facing businesses include Macquarie Securities Group, Macquarie Capital and Commodities and Financial Markets. FY16 International Income(3) FY16 Operating expenses By Region Australia Americas $A 32% 30% 7,120 million Up 6% on FY15 FY16 Effective tax rate EMEA Asia 24% 14% 31.0% (3) Net operating income excluding earnings on capital Down from 35.9% in FY15 and other corporate items. 3 Macquarie Group Limited and its subsidiaries 2016 Annual Report macquarie.com Chairman’s and Managing Director’s Letter Continued strong performance Dividends and Capital We are pleased to announce Macquarie Group achieved a The Board has resolved to pay a final ordinary dividend of net profit of $A2,063 million for the year ended 31 March $A2.40 per share (40% franked), up from $A1.60 per share 2016, up 29% on the prior year. (40% franked) in the first half. This results in a total ordinary The Group reported operating income of $A10,135 million, dividend payment for the year ended 31 March 2016 of an increase of 9% on the prior year. $A4.00 per share, up from $A3.30 in the prior year. Five of Macquarie’s six operating groups achieved a higher Macquarie has a longstanding policy of holding a level of net profit contribution(1) during the year with record net profit capital that supports its business and has consistently contributions from each of our annuity-style businesses grown its capital base ahead of business requirements. The Group’s APRA Basel III capital was $A17.2 billion and Macquarie Asset Management, Corporate and Asset (3) Finance and Banking and Financial Services. the Group’s surplus was $A3.9 billion at 31 March 2016. Our annuity-style businesses had another strong year, with Professional Conduct a combined net profit contribution of $A3,124 million, an The Board and Management are committed to achieving the increase of 10% on the prior year. These businesses have highest standards of professional conduct across all continued to grow in the challenging market conditions of Macquarie operations. Compliance with all regulatory recent years, highlighting the diversity of Macquarie’s requirements and our Company specific policies and business offering and its ability to adapt to changing procedures is core to our business and has been since conditions. inception. Among the annuity-style businesses: Our Code of conduct and What We Stand For principles of – Macquarie Asset Management benefited from growth in Opportunity, Accountability and Integrity guide the way that underlying base fee income, strong performance fees staff are expected to manage their responsibilities and and increased gains on disposal of investments conduct themselves on a day to day basis. It is a – Corporate and Asset Finance experienced increased fundamental responsibility for all staff to deal honestly and lending and leasing activity including the acquisition of fairly in their relationships with our clients and counterparties. an aircraft portfolio Staff must not engage in any improper, unlawful, or unethical – Banking and Financial Services experienced continued behaviour. There are appropriate consequences for any staff volume growth in Australian mortgages, business member who fails to meet these high standards. lending, deposits and the Wrap platform. To assist Board, Management and staff to meet their The net profit contribution from our capital markets facing responsibilities, we have a range of comprehensive and businesses (Macquarie Securities Group, Macquarie Capital effective programs in place, including reporting, training, and Commodities and Financial Markets) was monitoring and surveillance. The programs are subject to $A1,295 million, a decrease of 3% on the prior year. ongoing review and enhancement. Our formal conduct risk Among the capital markets facing businesses: program, which was initiated in 2015, is an example of this continuous improvement approach. We are emphasising – Macquarie Securities Group experienced significantly that staff must not engage in any actions that may have a improved trading opportunities, particularly in China in negative impact on our clients, or the fair and effective the first half of the year operation of the markets in which we do business. We are – Macquarie Capital benefited from gains on sale and enhancing our approach to conduct risk management, continued activity in mergers and acquisitions and including articulating what conduct risk means in each of our Equity Capital Markets (ECM) businesses and our approach to managing these risks. We – Commodities and Financial Markets experienced have made substantial progress and the program continues challenging credit market conditions particularly in the to evolve. northern hemisphere, partially offset by increased client activity in commodities resulting from price volatility Also during the past year, we have continued to reinforce our during the period. Company wide expectations of behaviour through multiple mechanisms, including policies, procedures and direct Total Group operating expenses of $A7,120 million for the communications to staff. year ended 31 March 2016 were up 6%, while the effective tax rate of 31.0% was down from 35.9% in the prior year, reflecting the nature and geographic mix of income and tax (1) uncertainties. Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income While our Australian franchise maintained its strong position, tax. the offshore businesses continued to grow, with international (2) income accounting for 68% of the Group’s total income(2) for International income is net operating income excluding the year ended 31 March 2016. Total international income earnings on capital and other corporate items. (3) was $A6,734 million for the year ended 31 March 2016, an Calculated at 8.5% Risk Weighted Assets (RWA) including increase of 4% from $A6,461 million in the prior year. capital conservation buffer (CCB), per APRA Prudential Standard 110. The APRA Basel III Group capital surplus is $A5.3 billion calculated at 7.0% RWA, per the internal minimum Tier 1 ratio of the Bank Group. 4 Environmental, Social and Governance Outlook The Board and Management view our commitment to While the impact of future market conditions makes Environmental, Social and Governance (ESG) performance forecasting difficult, it is currently expected that the as part of our responsibility to clients, shareholders and the combined net profit contribution from operating groups for communities in which we operate.
Load more

Recommended publications
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • Australian Equities Lending Margins Effective 21 April 2021
    Australian Equities Lending Margins Effective 21 April 2021 Stock ASX Margin Stock ASX Margin Stock ASX Margin Code Rate Code Rate Code Rate A2B Australia A2B 40% AusNet Services AST 70% Costa Group Holdings CGC 60% The A2 Milk Company A2M 65% ASX ASX 75% Challenger Financial Australian Agricultural Company AAC 55% AUB Group AUB 50% Services Group CGF 70% Adelaide Brighton ABC 70% Australian United Challenger Capital Notes CGFPA 60% Abacus Property Group ABP 60% Investment Company AUI 70% Challenger Capital Notes 2 CGFPB 60% Audinate Group AD8 40% Aventus Retail Property Group AVN 50% Challenger Capital Notes 3 CGFPC 60% Adairs ADH 40% Alumina AWC 70% Charter Hall Group CHC 70% APN Industria REIT ADI 40% Accent Group AX1 40% Champion Iron CIA 50% Australian Ethical Amaysim Australia AYS 40% Cimic Group CIM 70% Investment Limited AEF 40% Aurizon Holdings AZJ 75% Carlton Investments CIN 50% Australian Foundation Bapcor BAP 60% Centuria Industrial REIT CIP 60% Investment Company AFI 75% Baby Bunting Group BBN 40% Collins Foods CKF 50% Ainsworth Game Technology AGI 40% Bendigo & Adelaide Bank BEN 70% Class CL1 40% AGL Energy AGL 75% Bendigo & Adelaide Bank BENHB 65% Clean Teq Holdings CLQ 40% AGL Energy USFDS AGLHA 75% Bendigo & Adelaide Bank CPS BENPE 65% Clover Corporation CLV 40% Automotive Holdings Group AHG 55% Bendigo & Adelaide Bank CPS BENPF 65% Charter Hall Long Wale REIT CLW 60% Asaleo Care AHY 50% Bendigo & Adelaide Bank CPS BENPG 65% Centuria Metropolitan REIT CMA 50% Auckland International Airport AIA 70% Bell Financial Group
    [Show full text]
  • Macquarie Group Limi Macquarie Group Limited
    SUPPLEMENT TO THE OFFERING MEMORANDUM DATED 14 JUNE 2016 MACQUARIE GROUP LIMILIMITEDTED (ABN 94 122 169 279) (incorporated with limited liability in the Commonwealth of Australia) U.S.$10,000,000,000 (or equivalent in other currencies) Debt Instrument Programme ISSUER Macquarie Group Limited DEALERS Australia and New Zealand Banking Group Limited BofA Merrill Lynch Barclays Citigroup Commonwealth Bank of Australia Credit Suisse HSBC ING J.P. Morgan Macquarie Bank International Limited Macquarie Bank Limited National Australia Bank Limited SMBC Nikko Société Générale Corporate & Investment Banking Standard Chartered Bank Westpac Banking Corporation ISSUING & PAYING AGENT Deutsche Bank AG, London Branch CMU LODGING AGENT Deutsche Bank AG, Hong Kong Branch The date of this Supplement is 17 November 2016 1 Pages 1 to 161 (inclusive) and pages 238 to 240 (inclusive) of the Offering Memorandum dated 14 June 2016 comprise a base prospectus of Macquarie Group Limited (ABN 94 122 169 279) (“IssuerIssuerIssuer” or “MGLMGLMGLMGL”) (the “BaseBase ProspectusProspectus”) for the purposes of Article 5.4 of Directive 2003/71/EC, as amended (the “ProspectusProspectus DirectiveDirective”) in respect of unsecured and unsubordinated debt instruments to be admitted to the Official List of the UK Listing Authority (as defined below) and to be admitted to trading on the London Stock Exchange’s regulated market (“PDPD Debt InstrumentsInstruments”). The Base Prospectus was approved by the Financial Conduct Authority (“FCAFCAFCAFCA”) in its capacity as competent
    [Show full text]
  • MACQUARIE GROUP CAPITAL NOTES 4 PROSPECTUS Guidance for Investors
    Macquarie Group Capital Notes 4 Prospectus for the issue of Macquarie Group Capital Notes 4 (MCN4) to raise $750 million with the ability to raise more or less. Issuer Arranger and Joint Lead Managers Co-Managers Macquarie Group Limited Joint Lead Manager ANZ Securities Limited Macquarie Equities Limited ABN 94 122 169 279 Macquarie Capital Citigroup Global Markets Australia Bell Potter Securities Limited Pty Limited (Australia) Limited JBWere Limited Commonwealth Bank of Australia Ord Minett Limited Evans Dixon Corporate Advisory Pty Limited J.P. Morgan Securities Australia Limited Morgans Financial Limited National Australia Bank Limited Westpac Institutional Bank macquarie.com Important notices About this Prospectus Past performance information This Prospectus relates to the offer by Macquarie Group Limited The financial information provided in this Prospectus is for information ABN 94 122 169 279 (“MGL”) of Macquarie Group Capital Notes 4 purposes only and is not a forecast of performance to be expected in (“MCN4”) to raise $750 million with the ability to raise more or less future periods. Past performance and trends should not be relied upon (the “Offer”). as being indicative of future performance and trends. This Prospectus is dated 5 March 2019 and a copy was lodged with Financial statements and forward looking information the Australian Securities and Investments Commission (“ASIC”) on Section 3.7 sets out financial information in relation to MGL. The basis that date pursuant to section 713(1) of the Corporations Act 2001 of preparation of that information is set out in section 3.7. All financial (Cth) (“Corporations Act”) (as modified by the ASIC Corporations amounts contained in this Prospectus are expressed in Australian (Regulatory Capital Securities) Instrument 2016/71).
    [Show full text]
  • Prospectus for the Issue of Macquarie Bank Capital Notes (BCN)
    Macquarie Bank Capital Notes Prospectus for the issue of Issuer Macquarie Bank Capital Notes (BCN) Macquarie Bank Limited (ACN 008 583 542) to raise $400m with the ability to raise Arranger and Joint Lead Manager more or less Macquarie Capital (Australia) Limited Joint Lead Managers ANZ Securities Limited Citigroup Global Markets Australia Pty Limited Commonwealth Bank of Australia Evans and Partners Pty Limited J.P. Morgan Australia Limited Macquarie Capital (Australia) Limited Morgans Financial Limited National Australia Bank Limited Co-Managers Bell Potter Securities Limited JBWere Limited Macquarie Equities Limited Ord Minnett Limited IMPORTANT NOTICES difficulty BCN may be required to be No personal investment advice Securities Act of 1933, as amended Exchanged into MGL Ordinary Shares (“Securities Act”) or the securities Prospectus The information provided in this or Written Off. If Exchange occurs, Prospectus is not personal investment laws of any state or other jurisdiction This Prospectus relates to the offer you would be in the position of advice and has been prepared without of the United States and may not be by Macquarie Bank Limited (ACN 008 a holder of MGL Ordinary Shares taking into account your investment offered, sold or resold in the United 583 542) (the “Issuer” or “MBL”) of and those shares may be worth objectives, financial situation or States or to, or for the benefit of, Macquarie Bank Capital Notes (“BCN”) significantly less than your investment particular needs (including financial any “US Person” (as defined in to raise $400 million with the ability to in BCN. If a BCN is Written Off you and taxation issues).
    [Show full text]
  • MACQUARIE ATLAS ROADS UBS Australian Emerging Companies Conference April 2012
    MACQUARIE ATLAS ROADS UBS Australian Emerging Companies Conference April 2012 1 Disclaimer Disc la imer Macquarie Atlas Roads (MQA) comprises Macquarie Atlas Roads Limited (ACN 141 075 201) (MARL) and Macquarie Atlas Roads International Limited (Registration No. 43828) (MARIL). Macquarie Fund Advisers Pty Limited (ACN 127 735 960) (AFSL 318 123) (MFA) is the manager/adviser of MARL and MARIL. MFA is a wholly owned subsidiary of Macquarie Group Limited (ACN 122 169 279). None of the entities noted in this presentation is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited (ABN 46 008 583 542) (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities. This presentation has been prepared by MFA and MQA based on information available to them. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none o f Macquar ie Group Lim ite d, MFA, MARL, MARIL , th ei r di rect ors, empl oyees or agent s, nor any oth er person accept s any lia bility for any loss ar is ing from the use of this presentation or its contents or otherwise arising in connection with it, including, without limitation, any liability arising from fault or negligence on the part of Macquarie Group Limited, MFA, MARL, MARIL or their directors, employees or agents.
    [Show full text]
  • Australian Banks – in a Sweet Spot
    c Investment Strategy Update #47 Australian Banks – In a sweet spot • Australian bank stocks are in a sweet spot where banks offer a sensible hedge against this backdrop. both macroeconomic and stock specific factors Rising long bond yields and a steepening yield curve are providing a strong tailwind for further are positive for bank margins which have been performance. crushed by low rates and a flat yield curve. • Despite a rapid valuation re-rating since October In addition, as the economy has reopened, for the 2020, we see more upside as earnings (and most part faster than expected, and the housing dividends) continue to be upgraded and as the market has responded to policy initiatives and low sector benefits from a steepening yield curve, borrowing rates, the bear case for banks has been lower than expected bad and doubtful debt quickly unwound and we think the earnings and charges, improving credit demand and a reversal dividend upgrade cycle still has some way to play out. of underweight positions as reflation drives Investor sentiment has also shifted since 4Q20, with further value stock rotation. institutional investors closing their underweight positions, with rising dividends expected to further • Macquarie upgraded banks’ earnings by 10-25% through the recent reporting season. For a large- stimulate retail investor interest. cap sector, this is substantial, and while medium- Relative price performance improving term structural challenges remain, there is still Banks versus ASX200 scope for additional valuation expansion. $ Relative Price vs EPS Performance 130 • Macquarie’s order of preference within the sector 120 is ANZ Bank (ANZ), Westpac (WBC), National 110 Australia Bank (NAB) and Commonwealth Bank 100 (CBA).
    [Show full text]
  • 27 March 2019 Macquarie Group Capital Notes 4 Offer Closes PDF
    Macquarie Group Limited ABN 94 122 169 279 50 Martin Place Telephone (61 2) 8232 3333 Sydney NSW 2000 Facsimile (61 2) 8232 7780 GPO Box 4294 Internet http://www.macquarie.com Sydney NSW 1164 AUSTRALIA ASX/Media Release MACQUARIE GROUP CAPITAL NOTES 4 OFFER CLOSES Sydney, 27 March 2019 – Macquarie Group Limited (ASX: MQG; ADR: MQBKY) (“MGL”) today announced that it has closed its offer of Macquarie Group Capital Notes 4 (the “Offer”) ("MCN4"). MGL issued 9,054,910 MCN4 at an issue price of $A100 each, raising $A905.5 million. MCN4 are expected to commence trading on the ASX on a deferred settlement basis from approximately 10am (AEDT) on Thursday, 28 March 2019, under the ASX code “MQGPD”. Trading on a normal settlement basis is expected to commence on Tuesday, 2 April 2019. Allocation Policy Broker Firm Offer and Institutional Offer: Allocations to Syndicate Brokers and Institutional Investors were determined under the Bookbuild on Wednesday, 27 February 2019. Allocations to individual Broker Firm Applicants by a Syndicate Broker were at the discretion of that Syndicate Broker. Securityholder Offer: All valid Applications from Eligible Securityholders under the Securityholder Offer were accepted in full. The total allocation for the Securityholder Offer is $A155.5 million. Holding Statements CHESS and issuer sponsored Holding Statements indicating the number of MCN4 allocated to successful Applicants are expected to be dispatched by Monday, 1 April 2019. Refunds for any over payment are also expected to be dispatched by this date. Applicants can confirm their holding before receiving their Holding Statement in the following ways: • Broker Firm Applicants should contact their Syndicate Broker; and • Other Applicants can call the MCN4 Offer Information line on 1300 005 027 (within Australia) or on +61 2 8023 5474 (outside Australia) (Monday to Friday, 8.30am to 5.30pm, AEDT) to confirm their allocations.
    [Show full text]
  • PDF File, 4.1 MB
    Macquarie Bank Annual Report Year ended 31 March 2021 Macquarie Bank Limited ACN 008 583 542 Macquarie Bank Limited is a subsidiary of Macquarie Group Limited ACN 112 169 279 and is regulated by the Australian Prudential Regulation Authority (APRA) as an authorised deposit‑taking institution (ADI). Macquarie Group Limited is regulated by APRA as a Non‑Operating Holding Company of an ADI. Cover image With you ‘Every Step of the Way’. As Australia felt the impacts of COVID-19, the ‘Every Step of the Way’ campaign was launched to support and guide customers through uncertainty. Contents 01 02 Operating and Directors’ Report Financial Review Directors’ Report 22 Operating and Financial Review 8 Directors’ experience and special responsibilities 28 Remuneration Report 35 Macquarie Bank Limited and its subsidiaries 2021 Annual Report 03 04 Financial Report Further information Financial statements Additional investor information 218 Income statements 61 Glossary 221 Statements of comprehensive income 62 Statements of financial position 63 Statements of change in equity 64 Statements of cash flows 66 Notes to the financial statements 67 Statutory statements Directors’ declaration 209 Independent auditor’s report 210 Operating and Financial Review Financial and Operating Directors’ ReportDirectors’ Financial Report Financial 01Operating and Financial Information Further Review Payment Pause Between March 2020 and March 2021, Macquarie offered all business and personal banking clients who were experiencing financial difficulty due to the impacts of COVID-19 the ability to immediately defer their repayments for six months. This applied to all commercial loan, overdraft, home loan, car loan and credit card products. Macquarie Business Banking And Personal Banking are divisions of Macquarie Bank Macquarie Bank offers transaction accounts, home loans, credit cards, online banking, business banking and more.
    [Show full text]
  • Extracts from the Macquarie Group Limited 2019 Annual Report PDF 6
    ANNUAL REPORT Macquarie Group Year ended 31 March 2019 MACQUARIE GROUP LIMITED ACN 122 169 279 50 years of financial service Macquarie’s predecessor organisation, Hill Samuel Australia, opened in Sydney in December 1969 with three staff, capital of $A250,000 and an ambition to provide advisory and investment banking services of an international standard to the Australian market. Today Macquarie is a global financial services group operating in 30 markets providing asset management, leasing and asset financing, retail banking and wealth management, market access, commodity trading, investment banking and principal investment. 2019 Annual General Meeting Macquarie Group Limited’s 2019 Annual General Meeting will be held at 10:30 am on Thursday, 25 July 2019 at the Sheraton Grand Sydney Hyde Park, Grand Ballroom, 161 Elizabeth St, Sydney NSW 2000. Details of the business of the meeting will be contained in the Notice of Annual General Meeting, to be sent to shareholders separately. Cover image Macquarie’s global headquarters at 50 Martin Place, Sydney is a connected, flexible and sustainable workplace and the largest heritage redevelopment of its size to be awarded a Six Star Green Star Rating from the Green Building Council of Australia. Crowning the building with a new steel-frame glass dome, daylight harvesting reduces energy consumption by 40%. Table of 50 years of financial service 6 1 Letter from the Chairman 8 0 Letter from the Managing Director and CEO 10 contents ABOUT Operating and Financial Review 14 Corporate Governance Summary
    [Show full text]
  • Australian ESG/SRI
    24 June 2016 Asia Pacific/Australia Equity Research Australian ESG/SRI Environmental, Social and Governance (ESG) Research What keeps our bank analysts awake at night? ■ What keeps our bank analysts awake at night? We've teamed up with our banking analysts and taken a look at the commercial banking sector, identifying the top ESG risks and the impact of key megatrends. Their immediate concerns relate to social and regulatory risks – particularly the potential for a banking Royal Commission (creating uncertain but potentially far-reaching implications) and possible class-action damages that could follow on from successful ASIC litigation alleging BBSW market rigging. We see a Royal Commission as a volatile risk for the sector, creating a key event catalyst following the Federal election on 2 July 2016, almost Credit Suisse Environmental, Social regardless of who is elected. A much more infrequent (and essentially and Governance (ESG) research seeks unsolvable) social risk is the inherent vulnerability of systemically important to focus on sustainability and banks (their high equity gearing creates the risk of solvency issues accountability factors that are then emerging during periods of financial stress) rendering the prospect of a integrated into the investment process. taxpayer funded bail-out a perennial theme for the industry (if rarely ever Research Analysts visited in practice). ESG Research Sandra McCullagh ■ What makes our bank analysts happy? Cyber-security risks aside, the 61 2 8205 4729 [email protected] advent of a multi-polar world opens up new banking markets (international Zoe Whitton wholesale banking/trade finance) and new labour sourcing opportunities 61 2 8205 4613 (offshoring).
    [Show full text]
  • Office of Career Services Banking and Finance
    SAMPLE EMPLOYERS OFFICE OF CAREER SERVICES Deutsche Bank www.db.com Career Opportunities in BANKING AND FINANCE Barclays Capital www.barcap.com Description of the field J.P Morgan Chase & Co. Finance and banking offer many career opportunities for people who www.jpmorgan.com want to work in global financial markets and serves as a bridge between capital-raising entities and capital-producing investors. The globalization of banks, the integration of banking activities, and the growth of Credit Suisse emerging markets are ongoing trends. Internationalization means www.creditsuisse.com greater exposure to interest rate movements, economic difficulties in developed and developing countries, erratic currency fluctuations, and UBS stock and bond market volatility. www.ubs.com A career in banking and finance normally requires a solid background in Citi business-related courses such as accounting, business finance, money www.citigroup.com/citi and financial markets, statistics, and micro- and macro-economics. In addition, candidates should be able to understand financial statements and analyze a corporation’s growth potential, profitability, industry niche, Goldman Sachs future projections, and perform a number of similar tasks. Demonstrable www.gs.com experience that includes economic analysis and an understanding of economic markets and financial trends is also valued by employers. For Lazard those without previous experience in finance, it may be difficult to enter www.lazard.com the field of finance. The most recent recession has increased the competition in the financial sector. A summer internship at a bank can Macquarie Group provide valuable experience that may help students enter the financial www.macquarie.com services industry.
    [Show full text]