Macquarie Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
MQG reported a 24% fall in second-half net profit compared to the same period a year ago, to $1.27bn. Second-half impairment charges doubled to $900m.
Macquarie’s full year net income was down 8% to $2.7bn. We remain cautious on the deteriorating earnings and doubtful debt charges across the industry over the next six months.