CANBERA (dpa-AFX) - AMP Ltd. (AMLTF.PK, AMP.AX) said it expects to see
subdued growth for the remainder of the year as it continue to manage Net
Interest Margin. It now projects full year net interest margin to be below
previous guidance of 1.30%-1.35%.

The company said it continues to actively manage the Bank portfolio in what
remains a highly competitive environment, particularly as the Term Funding
Facility (TFF) refinancing continues across the market.

AMP Bank's total loan book grew by A$0.5 billion to A$25.0 billion in third
quarter of 2023. Total deposits increased by A$0.8 billion to A$22.1 billion
during third quarter of 2023, with a deposit to loan ratio broadly steady at
88%. The majority of inflows were from customer deposits, with moderate uplift
in term deposits driven by customer rates.

Platforms Assets Under Management (AUM) were steady at A$68.3 billion in the
third quarter of 2023 compared to A$68.3 billion in the second quarter of 2023.



Copyright(c) 2023 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX