Slide 1: Presentation to investors and analysts
For personal use only Presentation to investors and analysts Result announcement for the full year ended 31 March 2018 4 May 2018
Slide 2: Disclaimer
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Disclaimer For personal use only The material in this presentation has been prepared by Macquarie Group Limited ABN 94 122 169 279 (MGL) and is general bac
Slide 3: Agenda
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Agenda For personal use only 1. Introduction – Sam Dobson 2. Overview of Result – Nicholas Moore 3. Result Analysis and Financial Management – Alex Harvey
Slide 4: Introduction
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Introduction 01 For personal use only Sam Dobson – Head of Investor Relations MACQUARIE 2018
Slide 5: Overview of Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Overview of Result 02 For personal use only Nicholas Moore – Managing Director and Chief Executive Officer MACQUARIE 2018
Slide 6: About Macquarie: Diverse business mix
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices ABOUT MACQUARIE Diverse business mix For personal use only Annuity-style businesses (~70%) Capital markets facing businesses (~30%) Macquarie Asset Managem
Slide 7: 2H18 result: $A1,309m up 5% on 1H18
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices 2H18 result: $A1,309m up 5% on 1H18, up 12% on 2H17 For personal use only 2H18 1H18 2H18 v $Am $Am 1H18 Net operating income 5,523 5,397 2% Total operating
Slide 8: 2H18 net profit contribution from operating groups
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices 2H18 net profit contribution from operating groups $A2,399m down 10% on 1H18; up 1% on 2H17 For personal use only ANNUITY-STYLE BUSINESSES CAPITAL MARKETS
Slide 9: FY18 result: $A2,557m up 15% on FY17
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices FY18 result: $A2,557m up 15% on FY17 For personal use only 2H18 1H18 2H18 v FY18 FY17 FY18 v $Am $Am 1H18 $Am $Am FY17 Net operating income 5,523 5,397 2%
Slide 10: FY18 net profit contribution from operating groups
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices FY18 net profit contribution from operating groups $A5,061m up 8% on FY17 For personal use only ANNUITY-STYLE BUSINESSES CAPITAL MARKETS FACING BUSINESSES
Slide 11: Financial performance
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Financial performance For personal use only Operating income Profit FY18 FY18 $Am $Am 12,000 $A10,920m 3,000 $A2,557m 2,000 8,000 5% ON FY17 1,000 15 % ON
Slide 12: Annuity-style vs Capital markets facing businesses
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Annuity-style vs Capital markets facing businesses For personal use only Annuity-style businesses represent approximately 70% of the Group’s performance1 A
Slide 13: Assets under management of $A496.7 billion
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Assets under management of $A496.7 billion1 For personal use only AUM increased $A15.0b since Mar 17, largely due to positive market movements and favourab
Slide 14: Diversification by region
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Diversification by region For personal use only Asia International income 67% of total income1 Staff Total staff 14,469; International staff 54% of total 1
Slide 15: Macquarie's Australian businesses
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie’s Australian businesses For personal use only Bank Macquarie’s Australian businesses Group BFS Other Non-bank 10 locations FY18 Net operating inc
Slide 16: Diversification by region
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Diversification by region For personal use only A 10% movement1 in AUD is estimated to have approx. 7% impact on NPAT 2 Total income ($Am) 4,000 3,500 3,00
Slide 17: Macquarie Asset Management
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management For personal use only OPERATING INCOME MACQUARIE INFRASTRUCTURE MACQUARIE INVESTMENT MACQUARIE SPECIALISED AND REAL ASSETS (MIRA
Slide 18: Corporate and Asset Finance
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate and Asset Finance For personal use only OPERATING INCOME ASSET FINANCE PRINCIPAL FINANCE $A1,889m 3 % • Asset Finance portfolio of $A29.8b, broad
Slide 19: Banking and Financial Services
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services For personal use only OPERATING INCOME PERSONAL BANKING WEALTH MANAGEMENT BUSINESS BANKING BROADLY $A1,646m IN LINE Provides
Slide 20: Commodities and Global Markets
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets For personal use only OPERATING INCOME Commodity Markets Financial Markets Futures $A2,907m 1 % (Physical & Financial) 57%1
Slide 21: Macquarie Capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital For personal use only OPERATING INCOME M&A ADVISORY AND CAPITAL MARKETS BALANCE SHEET POSITIONS % $A1,491m 24 Activity • Maintained the l
Slide 22: Funded balance sheet remains strong
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funded balance sheet remains strong For personal use only Term liabilities exceed term assets 31 March 31 Mar 17 17 3131Mar March 1818 $Ab $Ab 140 140 TOTA
Slide 23: Basel III capital position
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Basel III capital position For personal use only APRA Basel III Group capital at Mar 18 of $A19.1b, Group capital surplus of $A4.2b1 $Ab Group regulatory s
Slide 24: Business growth
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Business growth For personal use only KEY DRIVERS • Increase in MAM of $A0.5b mainly due to acquisitions: – Net increase of $A0.1b due to on-balance sheet
Slide 25: Strong regulatory ratios
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Strong regulatory ratios For personal use only Bank Group (Mar 18) 17.5% 7.0% 6.9% 190% 115% 17.5% 7.0% 6.9% 190% 115% 112% 13.5% 110% 14.0% 6.0% 160% 112%
Slide 26: Final dividend
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Final dividend For personal use only 2H18 ORDINARY DIVIDEND FROM FY18 ORDINARY DIVIDEND FROM $A 3.20 $A2.05 $A $A4.70 (45% franked) 5.25 (45% franked) (45%
Slide 27: Result Analysis and Financial Management
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Result Analysis and Financial Management 03 For personal use only Alex Harvey – Chief Financial Officer MACQUARIE 2018
Slide 28: Income Statement key drivers
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Income Statement key drivers For personal use only 2H18 1H18 FY18 FY17 • Net interest and trading income of $A3,943m was in line with FY17 reflecting: $Am
Slide 29: Income Statement by Operating Group
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Income Statement by Operating Group For personal use only $Am 3,000 - 2,500 (3) ( 15 ) 47 217 8 ( 61 ) 147 2,000 2,557 2,217 1,500 FY17 NPAT MAM CAF BFS CG
Slide 30: Macquarie Asset Management
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management For personal use only Strong result: FY18 benefiting from strong base and performance fees and investment-related income, partia
Slide 31: MAM AUM movement
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices MAM AUM movement For personal use only $Ab MAM $A480b MIM +$A14b MIRA +$A1b2 MSIS3 MAM $A495b 600 MSIS $A6b 15 1 1 MSIS $A6b 500 (2) Flat 400 MIM MIM 300 $
Slide 32: MIRA EUM movement
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices MIRA EUM movement For personal use only $Ab 100 2.2 (4.2) 15.5 (9.3) 4.8 80 60 86.2 40 77.2 20 - 31 Mar 17 Capital raised Acquisition of GIG Listed securit
Slide 33: Corporate and Asset Finance
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate and Asset Finance For personal use only Impact of declining volumes in Principal Finance offset by lower provisions $Am KEY DRIVERS 1,400 • Asset
Slide 34: Corporate and Asset Finance: Asset Finance portfolio movement
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate and Asset Finance For personal use only Asset Finance movement in the portfolio $Ab 30.0 0.2 0.1 0.1 29.5 ( 0.4 ) 0.2 29.0 Flat ( 0.9 ) 0.8 28.5
Slide 35: Corporate and Asset Finance: Principal Finance portfolio
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate and Asset Finance For personal use only Principal Finance movement in the portfolio Principal Finance exposure by category $Ab Other 8.0 11% Corp
Slide 36: Banking and Financial Services
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services For personal use only Stronger volumes offsetting impact of FY17 sale of businesses and non-recurring items $Am KEY DRIVERS
Slide 37: Banking and Financial Services: balance sheet growth
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services For personal use only Strong balance sheet growth across the portfolios $Ab $Ab 90 8 82.5 7.3 80 7 72.2 6.5 70 5.9 6 58.4 5.
Slide 38: Commodities and Global Markets
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets For personal use only Strong commodities and FX results in challenging market conditions, equities improving KEY DRIVERS $Am
Slide 39: Commodities and Global Markets: Strong client base
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets For personal use only Strong client base 1,600 Client numbers 1,500 1,476 1,416 1,400 1,300 1,200 1,112 1,100 1,053 1,010 1,
Slide 40: Macquarie Capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital For personal use only Result driven by strong investment-related income largely in green energy $Am KEY DRIVERS 800 - • Fee income broadl
Slide 41: Macquarie Capital: Movement in capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital For personal use only Movement in capital $Ab 3.5 +$A1.4b ($A0.5b) 3.0 $A2.6b 2.5 2.0 $A1.7b 1.5 1.0 0.5 - 31 Mar 17 Investments Realisat
Slide 42: Impairment and provision expenses
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Impairment and provision expenses For personal use only $Am KEY DRIVERS 700 • Increase in MAM largely reflects the write-down of MIRA’s investment in MIC 6
Slide 43: Costs of compliance
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Costs of compliance For personal use only FY18 FY17 Regulatory project spend $Am $Am • The industry continues to see an increase in Basel III and liquidity
Slide 44: Balance sheet highlights
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Balance sheet highlights For personal use only • Balance sheet remains solid and conservative – Term assets covered by term funding, stable deposits and eq
Slide 45: Diversified issuance strategy
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Diversified issuance strategy For personal use only Term funding as at 31 Mar 18 – diversified by currency1, tenor2 and type Currency Tenor Type Loan capit
Slide 46: Continued customer deposit growth
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Continued customer deposit growth For personal use only Macquarie has been successful in pursuing its strategy of diversifying its funding sources by growi
Slide 47: Loan and lease portfolios – Funded Balance Sheet
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Loan and lease portfolios1 – Funded Balance Sheet For personal use only Operating Mar 18 Mar 17 Group Category $Ab $Ab Description Asset Finance2 25.1 22.2
Slide 48: Equity investments of $A6.8b
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Equity investments of $A6.8b1 For personal use only Carrying value2 Carrying value2 Carrying value2 Mar 18 Sep 17 Mar 17 Category $Ab $Ab $Ab Description M
Slide 49: Regulatory and tax update
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Regulatory and tax update For personal use only • Regulatory capital1 - In Jul 17 APRA provided guidance on the level of CET1 capital ratios for Australian
Slide 50: Accounting Standard update
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Accounting Standard update For personal use only AASB.9 Financial Instruments • Full standard adopted from 1 Apr 18 • No material impact to Macquarie on tr
Slide 51: Bank Group Basel III
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Bank Group Basel III Common Equity Tier 1 (CET1) Ratio For personal use only APRA Basel III CET1 ratio: 11.0%1 Harmonised Basel III CET1 ratio: 13.5%2 Bank
Slide 52: Strong liquidity position maintained
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Strong liquidity position maintained For personal use only • 162% average LCR for Mar 18 quarter, based on daily observations – Maintained well above regul
Slide 53: Capital management update
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Capital management update For personal use only The Board has resolved: ‒ To purchase shares1,2 to satisfy the MEREP requirements of approx. $A460m. The
Slide 54: Outlook
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Outlook 04 For personal use only Nicholas Moore – Managing Director and Chief Executive Officer MACQUARIE 2018
Slide 55: Factors impacting short-term outlook
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Factors impacting short-term outlook For personal use only Annuity-style businesses Capital markets facing businesses Macquarie Asset Management Commoditie
Slide 56: Short-term outlook
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Short-term outlook For personal use only • The Group’s result for FY19 is currently expected to be broadly in line with FY18 • Our short-term outlook remai
Slide 57: Medium-term
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Medium-term For personal use only • Macquarie remains well positioned to deliver superior performance in the medium-term • Deep expertise in major markets
Slide 58: Approximate business Basel III Capital & ROE
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Approximate business Basel III Capital & ROE For personal use only As at 31 Mar 18 1 APRA Basel III Capital Approx. FY18 Return Approx. 12-Year Average Ope
Slide 59: Medium-term
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Medium-term For personal use only Annuity-style businesses Capital markets facing businesses Macquarie Asset Management (MAM) Commodities and Global Market
Slide 60: Presentation to investors and analysts
For personal use only Presentation to investors and analysts Result announcement for the full year ended 31 March 2018 4 May 2018
Slide 61: Appendix A: Detailed result commentary
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices APPENDIX A Detailed result commentary For personal use only MACQUARIE 2018
Slide 62: Macquarie Asset Management: Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management For personal use only Result FY18 FY17 • Base fees of $A1,608m, broadly in line with FY17: $Am $Am – Increased fees from positiv
Slide 63: Corporate and Asset Finance: Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate and Asset Finance For personal use only Result FY18 FY17 • Net interest and trading income of $A582m, down 18% on FY17 mainly as a result $Am $Am
Slide 64: Banking and Financial Services: Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services For personal use only Result FY18 FY17 • Net interest and trading income of $A1,182m, up 13% on FY17 $Am $Am – 6% growth in
Slide 65: Commodities and Global Markets: Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets For personal use only Result FY18 FY17 • Commodities income of $A1,093m, down 3% on FY17 $Am $Am – Risk management products
Slide 66: Macquarie Capital: Result
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices 339 TRANSACTIONS VALUED AT Macquarie Capital For personal use only Result FY18 FY17 • Fee income was broadly in line with FY17: $Am $Am - M&A: lower fee in
Slide 67: Appendix B: Additional information – Funding
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices APPENDIX B Additional information – Funding For personal use only MACQUARIE 2018
Slide 68: Macquarie funding structure
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie funding structure For personal use only • MGL and MBL are Macquarie’s two primary external funding vehicles which have separate and distinct fund
Slide 69: Funded balance sheet reconciliation
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funded balance sheet reconciliation For personal use only • Macquarie’s statement of financial position is prepared based on generally accepted accounting
Slide 70: Funding for Macquarie
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for Macquarie For personal use only Mar 18 $Ab Mar 17 $Ab • Well diversified funding sources Funding sources • Minimal reliance on short-term whole
Slide 71: Funding for the Bank Group
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for the Bank Group For personal use only Mar 18 $Ab Mar 17 $Ab • Bank balance sheet remains liquid, well capitalised and with a diversity Funding s
Slide 72: Funding for the Non-Bank Group
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for the Non-Bank Group For personal use only Mar 18 $Ab Mar 17 $Ab • Non-Bank Group is predominately term funded Funding sources • Term funding bey
Slide 73: Explanation of Funded Balance Sheet reconciling items
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Explanation of Funded Balance Sheet reconciling items For personal use only • Self-funded trading assets: Macquarie enters into stock borrowing and lending
Slide 74: Conservative long standing liquidity risk management framework
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Conservative long standing liquidity risk management framework For personal use only Liquidity Policy • The key requirement of MGL and MBL’s liquidity poli
Slide 75: Appendix C: Additional information – Capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices APPENDIX C Additional information – Capital For personal use only MACQUARIE 2018
Slide 76: Macquarie Basel III regulatory capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Basel III regulatory capital For personal use only Surplus calculation Harmonised APRA Basel III Basel III 31 Mar 18 $Am $Am Macquarie eligible c
Slide 77: Macquarie APRA Basel III regulatory capital
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie APRA Basel III regulatory capital For personal use only Bank Group contribution Risk-weighted assets Tier 1 Deductions Capital Requirement1 31 Ma
Slide 78: Macquarie regulatory capital: Non-Bank Group contribution
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital For personal use only Non-Bank Group contribution • APRA has specified a regulatory capital framework for Macquarie • A dollar
Slide 79: Macquarie regulatory capital: Non-Bank Group contribution
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital For personal use only Non-Bank Group contribution Capital Assets Requirement Equivalent 31 Mar 18 $Ab $Am Risk Weight Funded a
Slide 80: Appendix: Glossary
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices APPENDIX C Glossary For personal use only MACQUARIE 2018
Slide 81: Glossary
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary For personal use only $A / AUD Australian Dollar CGM Commodities and Global Markets $US / USD United States Dollar CLF Committed Liquid Facility £
Slide 82: Glossary
Macquarie FY18 result announcement macquarie.com Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary For personal use only FY19 Full Year ending 31 March 2019 MQG Macquarie Atlas Roads GIG Green Investment Group MSG Macquarie Securities Group IPO
Slide 83: Presentation to investors and analysts
For personal use only Presentation to investors and analysts Result announcement for the full year ended 31 March 2018 4 May 2018