AMP (AMP) Q1 2026 earnings summary

Executive summary

• Platforms net cashflows rose 45% year-over-year to $1.1 billion, driven by adviser relationships and digital enhancements.

• Superannuation & Investments net cash outflows improved 26% to $80 million, reflecting better retention and new member acquisition.

• New Zealand Wealth Management net cashflows were $41 million, down from $57 million year-over-year, amid market uncertainty.

• China Life Pension Company AUM grew 17% for FY25 to RMB 2.4 trillion (~A$515 billion).

• AMP Bank GO deposits surged to $942 million, up $632 million sequentially, with FY26 deposits expected to exceed $1.5 billion.

• $150 million on-market share buyback commenced.

Financial highlights

• Total AUM across wealth businesses was $155.9 billion, reflecting market movements.

• Platforms AUM ended at $85.5 billion, down from $88.7 billion sequentially due to market impacts.

• Managed Portfolios AUM increased to $25.4 billion, up from $25.2 billion sequentially.

• Superannuation & Investments AUM was $58.8 billion, down from $60.7 billion sequentially.

• AMP Bank total loan book steady at $24.1 billion; total deposits at $19.3 billion, down from $19.6 billion sequentially.

Outlook and guidance

• FY26 AMP Bank GO deposits now expected to exceed $1.5 billion, with all other guidance unchanged and subject to market conditions.

• Focus remains on organic growth, adviser engagement, and digital innovation.