Macquarie Bank Now Expects Full Year Profit To Be As Much As 20% Better Than Expected

Photo: Getty/Cameron Spencer

Macquarie Group Limited says improved trading conditions and a lower Australian dollar will mean improved profits of between 10% and 20% for the full year.

The bank, in a note to the market, says the short term outlook remains subject to a range of uncertainties including market conditions, the impact of foreign exchange and potential regulatory changes.

Macquarie Bank posted a net profit of $678 million for the half year ended September 30, up 35%.

The bank’s 2015 financial year ends March 31. The 2014 net profit was $1.265 billion.

Macquarie Group shares last traded at $55.29.

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