- Increasing momentum on delivery of AMP’s three-year transformation strategy, amid challenging market conditions in each business unit in FY 20.
- FY 20 NPAT (underlying)1 of A$295 million (FY 19: A$439 million) reflecting the impacts of COVID-19 on our clients, our business and the broader economy and financial markets. FY 20 statutory NPAT of A$177 million, reversing A$2.5 billion loss in FY 19.
- Assets under management (AUM) in Australian wealth management (down 8 per cent) and AMP Capital (down 7 per cent), reflecting volatile investment markets and net cash outflows, which included the Australian Government’s early release of super program (A$1.8 billion).
- Resilient performance in AMP Bank which maintained its position with A$20.2 billion residential mortgage book in a competitive lending market; maintained credit quality while supporting 11 per cent of our mortgage clients with home loan repayment pauses.
- Strong capital position maintained with surplus capital of A$521 million at 31 December 2020.
1 Net profit after tax (underlying) represents shareholder attributable net profit or loss after tax excluding market adjustments, accounting mismatches and non-recurring revenue and expenses. NPAT (underlying) is AMP’s preferred measure of profitability as it best reflects the underlying performance of AMP’s business units.
