CRACCHIOLO JAMES M sold $9.8M of AMP

AMP Ltd shares (ASX:AMP) rose 5.96% to A$2.31, near a 2018 high, after its half-year 2026 results. Assets under management grew 8.2% to $167.6B. Platforms net cash flows rose 33% to $3.1B, and Superannuation net inflows were $76M. Underlying NPAT rose 33% to $174M. Interim dividend was 3c (20% franked) and AMP plans a $150M buyback.

AMP shares rose 6% to a seven-year high of A$2.31 after the company reported a strong half-year. Underlying net profit after tax rose 33% to AUD 174 million, beating analyst consensus of about AUD 142 million and the company’s AUD 170–180 million guidance. Statutory NPAT rose 57% to AUD 154 million. AMP also announced a AUD 150 million buyback and raised its dividend payout ratio to 41% from 35%.

AMP Limited reported a 57% rise in half-year net profit to A$154 million for the six months ended June 30, driven by stronger China partnerships and wealth platforms that offset weaker banking. Revenue rose 4% to A$1.425 billion. Underlying profit increased 32.8% to A$174 million. The board declared a 3.0c interim dividend and approved an additional on-market buyback tranche up to A$150 million.

AMP Bank launched “Equity Flex,” a 40-year loan for real estate investors with LVR up to 80%. It offers 6 to 10 years interest-only, with rates starting at 6.54% (60% LVR) and 6.59% (80% LVR), and fixed P&I at 6.39% p.a. The bank cites investor cash-flow needs amid higher rates and tax changes.

Australia’s ASIC said it found weaknesses in how banks manage mortgage offset accounts, leading to overcharging interest. In a review of eight banks, ASIC reported over $55 million in compensation paid to borrowers for failures in the two years to Aug 2025, with manual errors driving 86% of failures. Offset balances were about $350 billion as of March.

ASIC said it found weaknesses at eight banks covering over 70% of Australia’s home-loan market in how mortgage offset accounts are set up, monitored and managed. ASIC reported banks paid more than A$55m in compensation over two years for failures that could leave borrowers paying extra interest. Banks cited include AMP, ANZ, CBA, Credit Union Australia, HSBC, ING, Macquarie and Westpac.