Macquarie Corporate and Asset Finance (CAF) delivered a net profit of $A1.13bn (728.96m), up 2% on 2015.
Macquarie said the improved result was largely driven by the impact of the depreciation of the Australian dollar, the acquisition of an aircraft portfolio from AWAS Aviation Capital during the year and increased lending activity.
However, the lender said the increases were "partially offset by the non-recurrence of gains" in the prior year on the restructure of a railcar logistics operating lease facility, the disposal of the North American railcar operating lease portfolio and the sale of the Macquarie Equipment Finance US Operations.
CAF’s asset and loan portfolio increased 37% from $A28.8bn at 31 March 2015 to $A39.4bn at 31 March 2016, which the lender said was due to acquisitions which continue to transition as well as organic growth.
Macquarie Group managing director and chief executive officer Nicholas Moore said: "FY16 again highlighted the mix and quality of Macquarie’s businesses and its ability to adapt to changing conditions, with five of the six operating groups delivering increased net profit contributions.
"Macquarie’s annuity-style businesses’ (Macquarie Asset Management (MAM), Corporate and Asset Finance (CAF) and Banking and Financial Services (BFS)) which represent more than 70% of the Groups’ performance, each reported record net profit contributions for the year, with combined net profit contribution increasing by $A277m, or 10% on FY15."
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