Australia's Macquarie bank has raised over $533 million to fuel further international expansion following a successful 12 months of profit gains.
Earlier this week Macquarie announced a 13 per cent increase in annual net profit, with international growth the main reason for net profits of nearly $700 million over the last year.
The funds for further investment in infrastructure came from the sale of shares to institutional investors, who bought 10.61 million shares at just over $50 each.
According to Macquarie's chief financial officer Greg Ward, the extra funds will help continue the recent strong international growth, with the bank retaining its flexible investment strategy, making the most of whatever lucrative investment opportunities come its way.
The news comes after analyst concerns over the performance of Australia's number one bank, particularly in its management of its international funds, which invest in a variety of companies worldwide.
The bank seems unperturbed however, with even more money being put towards its international growth.