Setting the pace in more ways the one, costs and headcount are falling at Macquarie Bank, while lending booms.

The net profit for the Banking & Financial Services division of Macquarie Group lifted 11% to $1.38 billion over the full year to March 2025.  Net profit climbed 12% in the second half.

The bank’s loan portfolio was 15% greater at $161 billion at March 2025, with the home loan book jumping by 19%.

Headcount in the B&FS division fell 15% over one year and by 5% over six months to 3139. 

Operating expenses were 6% lower over the year, but most impressive was the 13% fall in payroll, to $550 million. The cessation of car loan originations was one factor, alongside “digitalisation and operational improvements.”

In FY2025 Macquarie said the return on equity for the Banking & Financial Services division was 15 per cent, making Macquarie not merely the most efficient but the most profitable of the six major banks.