AMP has three key divisions
First, a small bank that is focused on quite aspecific niche: investors who need a home loan, where mum and dad might be ableto help, such that AMP can lend on a low loan-to-value ratio.
Second, there’s a platforms business that is fighting for territory in a very competitive market
And there’s an advice business that remains some way from profitability,
The question for investors is whether they believe in the promise of AMP’s future state.
AMP’s challenge is execution. George must cleanup the past, navigate a tough six months in banking and wealth, and thenposition the group for future growth. The faith of battered investors may wellbe tested further.
Directors want more clarity the outcome of two royal commission-related legal actions,one brought by former AMP financial advisers, and the other by shareholders.
AMP has three key divisionsFirst, a small bank that is focused...
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