The way I read this is as follows:
1. System Growth is about 5% (give or take, depends on the point in time you take it)
2. AMP saying up to FY24, so let's call it 3 years
3. AMP say they can grow at 2-3x System growth in their mortgage book over this horizon
4. For AMP to achieve 50% gain over 3 years, would require 14.5% growth (call it nearly 3x System Growth)
5. AMP Mortgage book would end up around $31bn by end of FY24
So by this stage you should have a bank that can make about $200m p/a in profit.
The way I read this is as follows:1. System Growth is about 5%...
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