Off the back of strong growth in Macquarie
’s mortgage portfolio the bank has announced plans to bolster its relationships with brokers and intermediaries.
’s operational briefing yesterday COO Nicholas Moore announced the bank’s mortgage portfolio growth was up 8% on the September 2013 quarter.
now holds 1% of the Australian mortgage market, with a portfolio worth $15.8bn.
Moore said the bank would look to “build on successful intermediary partnerships to continue growing third party distribution in personal banking and wealth management”.
“Since our result announcement for the first half of the 2014 financial year, market conditions continued to show signs of improvement, however client activity remains subdued for some capital markets facing businesses,” said Moore.
’s annuity-style businesses – Macquarie
Funds, Banking and Financial Services and Corporate Asset Finance – continue to perform well with the combined quarter 2014 net profit contribution up on the prior corresponding period, and the September 2013 quarter.”
In November, Macquarie
reported a 39% rise in interim net profit to $501m, and tipped the second half to be stronger still. Analysts are now expecting the bank’s full year result for the year ended March 31 to be its highest since 2008.
Moore also highlighted the bank’s acquisition of a 25% stake in Connective, its sale of a 19.9% stake in OzForex via IPO, and the sale of Macquarie
Private Wealth Canada to Richardson GMP in November.
’s platform Wrap (which superseded the Perpetual platform in April) is up 6% from September, announced Moore, and Macquarie
Life Inforce risk premiums saw similar percentage growth.