Macquarie Group (ASX:MQG) released its half-year FY2021 results for the period ended 30 September 2020.
During the period, the Company reported a 32% drop in its net profit to A$985 million as compared to the previous corresponding period. In 1H FY2021, the credit and other impairment charges increased from A$139 million in 1H FY2020 to A$447 million in 1H FY2021, driven by worsening present and anticipated macroeconomic conditions due to the pandemic.
International income contributed 68% of total income in the first half. Annualised return on equity dropped from 14.5% to 9.5% in FY2020.
Macquarie Group declared an interim ordinary dividend of A$1.35 per share (40% franked).