Macquarie’s First-Half Profit Falls, to Launch Up to A$2 Billion Buyback

SYDNEY—Macquarie Group’s first-half net profit fell by 39%, but the company said its strong capital position means it could soon begin buying back shares worth up to 2.0 billion Australian dollars (US$1.29 billion).

Macquarie, Australia’s biggest investment bank and asset manager, said its net profit for the six months through September fell to A$1.42 billion, from A$2.31 billion a year earlier.