Aussie largest investment bank said Friday half year profit down 21%

SYDNEY: Macquarie Group Ltd., Australia's largest investment bank, said first-half profit dived 21 percent from a year earlier after writing down assets because of the global economic downturn.

The bank, which has investments spanning real estate, stocks and toll roads, said Friday it had net profit of 479 million Australian dollars ($439 million) for the six months through September, bettering its forecast of AU$435.5 million profit.