That was a very good article by AFR titled "Has AMP put the worst behind it?"
Good to see the media saying some positives thing about AMP after the barrage of Negativity over the past few years. Thumbs up to AFR.
I especially like the fact that they mention that the remediation costs were not going to be as high as many predicted, and they fell in line with AMP predictions.
"As a result, investors were hugely relieved when AMP announced that "overall remediation costs remain broadly in line with original estimate provided in November 2018".
Also they mentioned that AMP will have $Billions of cash surplus, much of it to be given back to share holders. One major shareholder said it could be as much as 50 - 60 c/share.
AMP Capital got another good mention
"Meanwhile, investors were pleased to see another stellar performance from AMP Capital, which generated $198 million in operating earnings in 2019, up 19 per cent from the previous year. AMP Capital's total assets under management have now climbed to $203 billion."
AMP Bank also got a good mention
"And AMP Bank managed to grow its residential mortgage book by 3.8 per cent in a highly competitive market.
"In the short term, bank margins are under pressure but there's room to grow that business," one major investor said. "And its deposit to loan ratio is 70 per cent, which is the same as Commonwealth Bank."
So all in all, even the media are saying some positive stuff about AMP, lets take while we can, Lord knows it has been a while.
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