The financial services provider reported a net profit of A$3.715 billion for the year ended 31 March (FY25), this being a 5% increase from the prior comparable period (FY24).

Macquarie told investors that its profit performance in the second half of FY25 had also been stronger, coming in at $2.10 billion: a rise of 30% compared to the first half of FY25.

The business was also bolstered by a rise of 2% in net operating income for FY25, which was $17.208 billion, while operating expenses were also strong, at $12,140 billion: close to what had been reported for the prior reporting period.

Its final ordinary dividend was reported as $3.90 per share – of which 35% was franked – with the ordinary dividend for FY25 being $6.50 per share (also 35% franked), this representing a 2H25 payout ratio of 71% and FY25 payout ratio of 67%.

Also in FY25, Macquarie reported a net operating income of $A17.208 billion: this being up 2% per cent on FY24, while operating expenses of $A12.140 billion were close to the numbers for FY24. International income accounted for 66 per cent of Macquarie’s total income.

Managing director and CEO Shemara Wikramanayake said these figures showed the company in a strong position despite external headwinds.

“Against a backdrop of ongoing market and economic uncertainty, Macquarie’s client franchises remained resilient over the past year, delivering new business origination and underlying income growth, contributing to our history of unbroken profitability,” she said.

Macquarie Group has been trading at $195.89.

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In its full year results announcement, CBA noted that its net profit after tax (NPAT) for the 2024 fiscal year was $9,836 million – down 2% on FY23, as well as representing a 4% drop since the first half of the year.

The lower profit – which was still higher than what the market had priced-in – was explained as a result of inflation-impacted operating expenses, which were offset by a lower loan impairment expense.

Operating expenses came in at $12,218 million, with this being 3% increase from the previous fiscal year, as well as another 3% increase compared to the first half: and again inflation – plus an increased spend in technology to deliver strategic priorities – was behind the figure.

Nevertheless, CBA said that behind the figures lay evidence of volume growth in its core businesses, also revealing a dividend of $4.65 per share, fully franked – an increase of 3% from FY23.

CEO Matt Comyn agreed that Australians were doing it tougher under current market conditions, but added that the bank was well set up to support customers in this context.

“Our results demonstrate our continued focus on supporting our customers, our disciplined operational and strategic execution, and the strength of our balance sheet,” he said.

“Many Australians continue to be challenged by cost-of-living pressures and a fall in real household disposable income.

“With slower economic growth and moderating demand, our strong balance sheet allows us to continue to support our customers and the broader economy, and deliver sustainable returns.

“We have made it easier for our customers to access hardship assistance; provided eligible homeowner customers with the option to suspend mortgage repayments; and supported all customers with access to money management tools.”

However, commentators such as Saxo Asia Pacific Senior Sales Trader Junvum Kim suggested the presence of some underlying negative features among these results.

“Competitive pressures are significantly impacting CBA’s net interest margin (down 8 basis points year on year to 1.99%), leading to half-on-half declines across nearly all units,” he said.

“Furthermore, the rise in impairment provisions is emerging as a notable negative factor.”

At 13:05 AEST, CBA shares were trading at $133.32, a rise of 0.6% since the market opened.

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