Ann: 1H 24 Investor Presentation, page-31

since when does s&p comment

AMP's wealth-management activities should continue to stabilize, says S&P Global Ratings in a note. At the same time, S&P reckons the proposed scaling down of AMP's direct ownership of its advice businesses, where losses continue, should also support the operating performance of the broader wealth-management business. Still, S&P sees that earnings from its banking business are likely to remain under pressure as funding and lending competition persists. "These dynamics should contribute to a greater proportion of group earnings coming from wealth management over the next two years," the ratings company says in its analysis of AMP's 1H results issued Thursday.