AMP's Loan Recovery May Not Start Until FY 2025 -- Market Talk

Dow Jones04-19

0229 GMT - AMP's 1Q FY 2024 update reflects continued headwinds in the Australian retail banking sector, say Jefferies analysts Simon Fitzgerald and William Richardson. For example, for 1Q, the Australian wealth manager's loans dropped to A$23.5 billion from A$24.4 billion in December. Jefferies sees that AMP's banking unit faces headwinds and is keeping it conservative forecasts, seeing that total loans will likely not recover to FY 2023 levels for another five years. It also forecasts net interest margin to stay in the range of 1.10% to 1.14% over the same period. Still, Jefferies is more positive on AMP's platforms and superannuation/investment businesses given significant premiums seen at rivals Hub24 and Netwealth. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

April 18, 2024 22:31 ET (02:31 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2428957757?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-19 10:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2428957757","market":"sg","top_or_hot":-1,"title":"AMP's Loan Recovery May Not Start Until FY 2025 -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0229 GMT - AMP's 1Q FY 2024 update reflects continued headwinds in the Australian retail banking sector, say Jefferies analysts Simon Fitzgerald and William Richardson. For example, for 1Q, the Australian wealth manager's loans dropped to A$23.5 billion from A$24.4 billion in December. Jefferies sees that AMP's banking unit faces headwinds and is keeping it conservative forecasts, seeing that total loans will likely not recover to FY 2023 levels for another five years. It also forecasts net interest margin to stay in the range of 1.10% to 1.14% over the same period. Still, Jefferies is more positive on AMP's platforms and superannuation/investment businesses given significant premiums seen at rivals Hub24 and Netwealth. (alice.uribe@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 18, 2024 22:31 ET (02:31 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMP's Loan Recovery May Not Start Until FY 2025 -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMP's Loan Recovery May Not Start Until FY 2025 -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-19 10:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0229 GMT - AMP's 1Q FY 2024 update reflects continued headwinds in the Australian retail banking sector, say Jefferies analysts Simon Fitzgerald and William Richardson. For example, for 1Q, the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4135","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428957757","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428957757","pubTimestamp":1713493860,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Copyright (c) 2024 Dow Jones & Company, Inc.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","BK7112":"其它综合性金融服务","AMP":"阿莫斯莱斯金融","LU0106831901.USD":"贝莱德世界金融基金A2","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","AMP.AU":"AMP LIMITED","BK4585":"ETF&股票定投概念","XJO.AU":"标普/澳交所 200指数","BK4588":"碎股"},"translate_title":"AMP的贷款复苏可能要到2025财年才会开始——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMP":1,"AMP.AU":1,"XAO.AU":0.75,"XJO.AU":0.75,"XKO.AU":0.75},"content_text":"0229 GMT - AMP's 1Q FY 2024 update reflects continued headwinds in the Australian retail banking sector, say Jefferies analysts Simon Fitzgerald and William Richardson. For example, for 1Q, the Australian wealth manager's loans dropped to A$23.5 billion from A$24.4 billion in December. Jefferies sees that AMP's banking unit faces headwinds and is keeping it conservative forecasts, seeing that total loans will likely not recover to FY 2023 levels for another five years. It also forecasts net interest margin to stay in the range of 1.10% to 1.14% over the same period. Still, Jefferies is more positive on AMP's platforms and superannuation/investment businesses given significant premiums seen at rivals Hub24 and Netwealth. (alice.uribe@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 18, 2024 22:31 ET (02:31 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428957757"}