|Bid||1.1250 x 17787300|
|Ask||1.1300 x 16601900|
|Day's Range||1.1150 - 1.1400|
|52 Week Range||0.8550 - 1.2200|
|Beta (5Y Monthly)||0.74|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 11, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Sep 18, 2020|
|1y Target Est||1.04|
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(Reuters) -Australian wealth manager AMP Ltd said on Thursday its half-year underlying profit slumped by nearly a quarter, as margin pressure weighed on the banking division, sending its shares down nearly 3%. Net interest margin at AMP Bank fell to 1.32% in the first half of the fiscal year, from 1.71% a year earlier, dragged down by growth in fixed-rate loans - which are less profitable. Still, the company said the banking division's net interest margin improved in the second quarter, and will show a good performance during the second half of the year, benefiting from a higher interest rate environment.
Australia's AMP Ltd will sell unit AMP Capital's international infrastructure equity business for up to A$699 million ($497.83 million) to U.S.-based DigitalBridge, leaving the wealth manager with banking, wealth and financial advice divisions. AMP said on Thursday https://corporate.amp.com.au/content/dam/corporate/shareholdercentre/files/asx-announcements/2022/April/28%20April%20-%20AMP%20sells%20remaining%20Collimate%20Capital%20business.pdf it will get an upfront cash payment of A$462 million from the sale of the assets, an additional estimated A$57 million performance fees payment, and up to A$180 million subject to future fund raising.
(Reuters) -Australia's AMP Ltd will sell unit AMP Capital's international infrastructure equity business for up to A$699 million ($497.83 million) to U.S.-based DigitalBridge, leaving the wealth manager with banking, wealth and financial advice divisions. The sale comes just a day after the embattled wealth manager announced divestment of AMP Capital's real estate and domestic infrastructure equity business to Dexus for up to A$550 million. "Post completion of the two sales, AMP Ltd will be a more focused entity, concentrated on driving our core banking and retail wealth businesses in Australia and New Zealand, with a core objective of accelerating our strategy and increasing our competitiveness," AMP Chief Executive Officer Alexis George said.