Getting punished ..., page-16

Get ready.....And thy say onto thee, thee will go the $400m

On the banking business, which incurred a loss before interest and tax of $11m, reflecting significant regulatory and integration expenses, Challenger says "market conditions have changed" since it bought the business in December 2020. The net interest margin was 0.93 per cent for the 11 months to June 30.
"It is becoming apparent the bank is unlikely to realise the expected benefits in the timeframe anticipated.
"As a result, Challenger is reviewing the bank's position within the group and has commenced a strategic review of the business."
It has appointed Gresham Partners to assist.

First point of contact AMP...lol