AMP Bank

• John Kavanagh

AMP is committing $300 million in seed funding to its Alternative Debt Fund. read more

• Ian Rogers

AMP will take until early 2025 to roll out AMP Bank’s new digital small business proposition. read more

• John Kavanagh

After putting the brakes on home loan origination in the second half of last year, in response to margin pressure, AMP Bank is now suffering a big runoff in its mortgage book. read more

• George Lekakis

Volume growth in AMP’s banking arm stalled in the December 2023 half as tumbling interest margins forced the company to pull back on home lending activity. read more

• Ian Rogers

AMP will invest $60 million to launch a new digital bank for small business, with aspirations to more than treble its market share. read more

• George Lekakis

AMP’s locally listed scrip underperformed most other financial services stocks on Wednesday after the company warned of margin pressure in its banking business. read more

• Banking Day staff

NAB chief digital, data and analytics officer Angela Mentis will retire next month, after 17 years at the bank. read more

• John Kavanagh

AMP Bank’s latest issue of residential mortgage-backed securities was priced at much narrower spreads than the bank’s previous transaction in March, reflecting less RMBS issuance this year and continu.. read more

• George Lekakis

AMP shareholders who sued the company over its failure to disclose to regulators its notorious fee-for-no-service practices have settled the case for A$110 million. read more

• Ian Rogers

AMP will probably be keeping its bank, but would be wise to go looking for a buyer.  read more

• George Lekakis

AMP’s ASX-listed scrip was dumped on Wednesday after a Federal Court decision potentially exposed the company to a raft of compensation payouts to aggrieved financial planners affected by controversia.. read more

• John Kavanagh

AMP has launched an open banking service designed to streamline and enhance its advisers’ and brokers’ dealings with clients. read more

• Banking Day staff

ANZ’s group executive talent and culture and service centres, Kathryn van der Merwe, is leaving the bank to work at Telstra. read more

• John Kavanagh

AMP Bank has joined the growing list of ADIs whose deposit books are in decline, reporting that customer deposits fell 1.6 per cent in the March quarter. read more

• George Lekakis

AMP Group last night clarified an apparent inconsistency in the 2022 net profit reported for its banking subsidiary. read more

• John Kavanagh

The local mortgage-backed securities market showed no obvious signs of pressure during March, as AMP Bank, Thinktank, Firstmac, LaTrobe and Liberty all got deals away. read more

• John Kavanagh

AMP Bank has gone against the trend, missing the opportunity provided by higher interest rates to improve margins in 2022, instead suffering a 24 basis point fall in its net interest margin. read more

• John Kavanagh

AMP Bank has formed a partnership with property investment company Bricklet to offer first home buyers a shared equity option to overcome the deposit barrier. read more

• John Kavanagh

AMP Bank has been investing in the digitisation of its business for the past couple of years but there wasn’t much to show for it in its latest results. read more

• Banking Day staff

Former JP Morgan Chase head of investment banking, Australia and New Zealand, Andrew Best, is joining the AMP Ltd board as a non-executive director. read more