FY 21 NPAT (underlying) of A$356m up 52.8% on FY 20, assisted by AMP Bank earnings and recovery of credit provisions, and strong infrastructure performance fees

A$300m cost-out target (FY 19-22) on track with ~A$260m of gross cost-outsavings delivered by FY 21

FY 21 capital surplus of A$383m above

target requirements, supporting demerger and transformation

Launched new contemporary advice services model for 2022

Technology investment in AMP Bank supported growth in residential mortgage book

Demerger program on track for completion in 1H 22

Reorganisation nearing completion:

GEFI sale (completion Q1 22)

Infrastructure Debt platform sale (completion Q1 22)

MAG transfer to Australian Wealth Management (completion Q2 22)

Strong momentum in establishing AMP Capital Private Markets as a standalone business:

Pro forma balance sheet principles for demerged entities determined, setting foundation for strategic delivery

New brand announced for Private Markets business

Appointment of experienced Chief Financial Officer

Delivery of demerger and associated transactions and reorganisation

Meeting additional cost-out targets

Accelerating implementation of business strategies in both entities:

AMP - Bank & Platforms growth, Advice transformation

Private Markets - Separation, simplification, client growth

Undertaking 8 to 1 share consolidation prior to demerger

4

Reduced fees across Master Trust and platforms products. Delivered free

retirement health checks and financial education for AMP Super members

AMP Bank maintained top five ranking1 of Australian banks for broker service

experience in 2021

New Zealand Wealth Management transitioned to a simpler and more cost- effective investment structure to enhance client outcomes

AMP Capital delivered close to A$1b of retail property developments (Marrickville Metro, Karrinyup) and successfully sold major stakes in infrastructure assets (Angel Trains and ESVAGT) creating significant value for clients

Employees across all levels of the organisation participated in workshops to to inform new purpose and values

Culture diagnostic sessions - over 30% of workforce participated in focus groups on culture

Met 40:40:20 gender representation targets at board, middle management and workforce generally

Group wide employee satisfaction score increased from 67 to 71 in 2021

Strong progress on AMP's Innovate

Reconciliation Action Plan, with over 60%

of actions complete

Strengthened actions to address modern slavery, following first transparency statement published in 2021

The AMP Foundation distributed more than A$3.2m to charities and individuals making a difference in the community

Operationally carbon neutral (9th year).

Maintained 'A-'leadership rating in annual CDP rating (formerly Carbon Disclosure Project); AWOF achieved net zero scope 1 + 2 emissions for internally managed assets

1. Ranking of banks with more than 20% of broker usage, Third Party Lending Report, Momentum Intelligence, 2021.

5

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AMP Limited published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2022 22:28:11 UTC.