WHEN WILL AMP GET BACK UP TO NINETY CENTS, page-51

There are many knowns with Amp at the moment

1. The costs of all class actions: Disagree: is likely to be $200-300m: has been endless bedwetting based on this but note this risk can be acquitted comfortably given excess capital and cash held.
2. The costs of breaking up the businesses Disagree: Major costs have been expensed in recent HY and mostly provided for.
3. The costs of fixing wealth and advice - Disagree: Wealth is expected to return to break even in 2024 - likely 2023 based on current trend. Restructure is supported by profits from other arms as is normal in any corporation.
4. The cost to grow Amp bank - Disagree - revenue growth is outstripping recurring expense growth and Bank has been a clear outperformer continuing to demonstrate above system growth.
It can be ugly and Amp has a tendency to deliver bad news, mostly self inflicted as well. Random comment
I remain positive with Amp but don't expect anything until the next reporting. Random comment