AMP shares rally on $295m capital return promise
Tom RichardsonJournalist
AMP chief executive Alexis George warned the group’s challenger bank faces margin compression in 2024 as home loan competition increases and the sprawling financial group targets a further $120 million in cost reductions by 2025.
The shares rallied 7 per cent to $1.04 on AMP’s pledge to return a further $295 million through future dividends or buying back shares on-market.
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