I told grandma to hold. Is this stupid?

I was talking to my mum today on the phone and her friend ("grandmother") was there panicking about her AMP shares

I had a quick look at the $290M provision and around $125M ($50Mpa remediation administration, $20M profit fall for AWM, $35M controls and $19M review) in financial impacts mentioned on page 6 of the last presentation (below).

This seems to reduce the underlying profit from $1B pa to $875M pa. I factored in $800M profit pa or 27 cents EPS or 20 to 22 cent (mostly franked) dividend

The company's profit performance has been erratic over the years however it has always managed to pay juicy (partially franked) dividends.

The new CEO looks positive.

The general outlook for banks looks questionable (higher interest rates due to dependence on offshore funding and toppy housing market).

Should my grandmother hold her AMP shares?

Did I give grandma the right advice?

Thanks