SYDNEY: Australia's Macquarie Bank, once nicknamed the millionaire's factory for the number of executives it made rich, said Friday its profits halved last year, and slashed 2.5 billion Australian dollars ($1.8 billion) from its asset values because of the global financial crisis.
Net profit for the 12 months to March 31 was AU$871 million ($635 million), a 52 percent fall from the AU$1.8 billion earned a year earlier, Australia's largest investment bank said.
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