10 Feb 2010

Higher 2nd half profit tipped for Macquarie Group

12:31 pm on 10 February 2010

Macquarie Group says its second-half profit could be as much as 10% higher than its first-half earnings, if economic conditions around the world continue to improve.

First-half earnings at the Australian investment bank totalled $A479 million.

In his latest trading update, chief executive Nicholas Moore says Macquarie Group's bottom line is in good health, with less reliance on short-term funding, and increasing retail deposits.

Mr Moore says the group has about $A10.9 billion in capital - about $A4.5 billion more than it needs to meet its regulatory requirements.