(Adds details about buyback, share milestone, capital ratio)
Feb 6 (Reuters) - Macquarie Group Ltd MQG.AX said on Tuesday it expects a record annual profit, adding that trading conditions across the group were "satisfactory" in the December quarter.
Australia's biggest investment bank said its nine-month earnings from annuity-style businesses were higher from the year-ago period, and that net profit for the full year would be about 10 percent above last year's record profit of A$2.2 billion ($1.73 billion).
The Sydney-listed company added that the passing of the U.S. tax cut will not impact its net profit for the year ended March 31, though it will reduce the bank's U.S. effective tax rate by about 25 percent from the start of fiscal 2019.
Macquarie shares have risen sharply over the past few months, brushing off concerns around an inquiry into the scandal-hit Australian financial sector to scale a record high last week. bank's asset management business, its biggest-earning unit, saw a 2 percent increase in assets under management as at Dec. 31 compared with three months ago.
The company, dubbed the "millionaire's factory" due to the salaries of its most successful executives, added that its share buyback program remains in place. In October, Macquarie had announced a A$1 billion buyback. common equity tier 1 capital ratio as at Dec. 31 was 10.7 percent down from 11 percent at Sept. 30. ($1 = 1.2689 Australian dollars)