Macquarie reports $1.6 billion half-year profit below market expectations

Macquarie Group reported an interim profit of $1.6 billion for the six months ending September 30, a 14% increase from last year but a 23% decline from the previous half. Analysts had expected a profit of around $1.7 billion. The company declared an interim dividend of $2.60, which is lower than the $3.85 dividend from March but higher than last year's $2.55. Assets under management reached $916.8 billion, up 3% from last year but down 2% from the previous half. Macquarie's performance was supported by better results in its asset management sector and advancements in its banking digitization efforts, according to CEO Shemara Wikramanayake.