Overview

• Underlying half-year earnings rose 9.2% to A$131 million but fell short of consensus, triggering a more than 4% share decline.
• Statutory net profit declined 5% to A$98 million as litigation expenses and business simplification charges weighed on results.
• Group controllable costs were cut by 4.4%, helping to offset inflationary pressures and support margins.
• AMP Bank Go has signed up about 7,500 customers and accumulated A$123 million in transactional balances since its February launch.
• The banking division posted a 2.9% profit increase to A$36 million with net interest margin rising to 1.30%, and the interim dividend was held at two Australian cents per share.