Ann: AMP to launch new digital bank designed for small business, page-150

Hi jdon,
I don't see this as a necessary business move.
AMP says it is a small number of borrowers , therefore the amount of money involved will be small.
Damage to their reputation will be much more costly.
Yet another in a long line of amateur hour management decisions at AMP. Just imagine selling a "discounted " loan in the future.This level of incompetence makes it difficult to predict medium to long term share prices. You just get the impression that the macro environment could improve , they could come up with a good money making idea, profits improve ,then they would find a way to muck it up.