Macquarie Bank Just Smashed Analyst Expectations, Posting Its Best Profit In Six Years

Photo: Getty Images

Macquarie Group just announced a full-year net profit of $1.27 billion, the bank’s best result in six years.

That’s a 49% increase on full-year 2013, and will see shareholders pocket a final dividend of $1.60 a share, 40 per cent franked, on 2 July.

Its second-half 2014 net profit printed at $764 million, up 52% on first-half 2014.

Most analysts had expected its full-year profit to come in at around $1.22 billion.

Shares were trading down 1.72% to $57.20 after 10.30am AEST. Click this link for a live price.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.