Loan book grows, though wider results punished by market
Investment bank Macquarie grew its home loan portfolio by 6% sequentially in the first quarter of its financial year, with the total book surging past $150 billion.
It follows a stellar financial year for Macquarie's mortgage segment, in which the Australia financial giant grew its loan book by 19%, as reported back in May.
In an annual general meeting report published on Thursday, Macquarie noted that 94% of home loans originated through the broker channel, cementing its leading position in the third party space.
With no retail network to distribute home loans through, Macquarie almost solely relies on brokers for loan origination.
Macquarie’s terminable rise in the broker channel has been rewarded by lavish praise in the industry. For the fourth year running, the group took home first place in MPA’s Brokers on Banks 2025 survey.
The lender clinched the top spot in turnaround times and picked up first-place gains in product range, online platform and services, and brand trust.
Last night, Macquarie also won Best Major Lender at the Mortgage and Finance Association of Australia (MFAA)’s National Excellence Awards for the sixth year running. Head of broker distribution Wendy Brown (pictured) accepted the award.
“This award is a testament to the dedication and hard work of our teams in building connected experiences for brokers and their customers,” Brown wrote in a LinkedIn post.
Elsewhere, in the results, Macquarie’s business banking segment increased by 4% sequentially to $17.3 billion in the first quarter, following the 6% of annual growth reported in May.
Net operating income across the whole bank edged up 2% to $17.2 billion, while total funds on platform added 7% to $164.5 billion.
The results did not go down well with the market, with shares plummeting 4.6% to $214.9 at the time of writing.
CFO to step down
Macquarie also announced that its long-serving chief financial officer Alex Harvey will step down from his role at the end of the year.
Harvey, who has served Macquarie for 28 years – including eight years as CFO – has played a pivotal role in transforming the Group’s financial management and supporting its global expansion.
He will be succeeded by Frank Kwok, a 28-year Macquarie veteran who has recently served as Deputy CFO and Group Treasurer. Kwok will assume the CFO role and join the Executive Committee from 1 January 2026, pending necessary approvals.
