Banking and Financial Services Group
Macquarie’s retail banking and financial services business
Banking and Financial Services Group has over 2,3001 staff predominately in Australia.
Group's net profit contribution2
Full year to 31 March 2018: 11 per cent
Full year to 31 March 2017: 11 per cent
Banking and Financial Services (BFS) comprises Macquarie’s retail banking and financial services businesses, providing a diverse range of personal banking, wealth management and business banking products and services to retail clients, advisers, brokers and business clients. As at 31 March 2018, the group had total BFS deposits3 of $A45.7 billion, an Australian mortgage portfolio of $A32.7 billion and funds on platform4 of $A82.5 billion.
BFS serves the Australian market and is organised into the following three business divisions:
Macquarie Personal Banking provides a full retail banking product suite to clients with mortgages, credit cards, transaction and savings accounts. Serves clients through direct Macquarie offerings, a white label personal banking platform, strong intermediary relationships and a leading digital banking experience.
Macquarie Wealth Management provides clients with a wide range of wrap platform and cash management services, investment and superannuation products, financial advice, private banking and stockbroking. Delivers products and services through institutional relationships, adviser networks and dedicated direct relationships with clients.
Macquarie Business Banking provides a full range of deposit, lending and payment solutions, as well as tailored services to business clients, ranging from sole practitioners to corporate professional firms, who we engage with through a variety of channels including dedicated relationship managers.
1. As at 31 March 2018.
2. Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income tax.
3. BFS deposits exclude corporate/wholesale deposit balances.
4. Funds on platform includes Macquarie Wrap and Vision.