On 6 August 2026, Amp Limited (ASX:AMP) released its first-half FY2026 results, reporting higher underlying earnings, stronger Wealth Business momentum and continued Capital management initiatives. The company recorded underlying net profit after tax (NPAT) of $174 million for the six months ended 30 June 2026, representing growth of 33% compared with the prior corresponding period. Statutory NPAT increased 57% to $154 million. The result was supported by improved cashflows across Platforms, Superannuation & Investments and international partnerships, while Assets under management increased to $167.6 billion.

AMP’s first-half performance reflected its ongoing transition towards Wealth Management and retirement-focused businesses, with improved customer flows, digital platform adoption and capital efficiency initiatives contributing to the overall result.

FY2026 Half-Year Results Highlight Wealth Business Momentum

AMP delivered improved financial performance during the first half of FY2026, with growth across several core operating segments.

Platforms remained a key contributor, with underlying NPAT increasing 15.1% to $61 million. Net cashflows increased 33.4% to $3.1 billion, compared with $2.3 billion in the prior corresponding period. Closing assets under management for Platforms increased to $92.7 billion, supported by adviser growth and customer engagement.

The company reported continued momentum across its North platform, including growth in adviser relationships and increased adoption of digital wealth solutions. North’s Managed Portfolios offering expanded, while retirement solutions continued to support customer engagement.

Superannuation & Investments also delivered improved performance, with underlying NPAT increasing 18.5% to $32 million. The segment recorded positive net cashflows of $76 million during the half, compared with net outflows in the previous corresponding period. This represented the first positive half-year net cashflow result for the segment since 2017.

Assets under management within Superannuation & Investments increased to $62.6 billion, supported by improved member retention and higher inflows.

AMP’s New Zealand Wealth Management business delivered underlying NPAT of $18 million, with Earnings supported by Margin discipline and cost management. Net cashflows increased by 19.6% to $116 million during the period.

About AMP Limited and Its Financial Services Platform

AMP Limited is an Australian financial services company focused on wealth management, retirement solutions, platforms and banking services.

The company provides financial products and services through businesses including Investment platforms, superannuation, retirement solutions, advice-related services and AMP Bank.

AMP has been repositioning its business towards wealth and retirement markets, with a focus on improving customer engagement, strengthening digital capabilities and increasing operational efficiency.

The company’s wealth platforms provide investment administration and retirement solutions for advisers and customers. Through these platforms, AMP supports financial advisers and individuals managing long-term savings and Retirement Planning needs.

During FY2026, AMP continued investing in digital capabilities, including enhancements to its North platform and technology-based customer solutions.

Recent Development: Capital Returns and Business Transformation

On 6 August 2026, AMP released its first-half FY2026 results and announced further capital returns through dividends and a share buyback.

During the half, AMP generated $236 million of surplus capital and returned $201 million to shareholders through dividends and buyback activity. The company announced an additional $150 million on-market share buyback, alongside an interim Dividend of 3.0 cents per share, 20% franked.

AMP continued progressing its capital release strategy from AMP Bank and non-strategic assets. The company reported a surplus capital position of $89 million at the end of the half as part of its efforts to improve capital efficiency.

AMP’s China partnerships also contributed positively during the period. The contribution from these partnerships increased to $56 million, supported by growth in retirement savings and pension markets.

The company’s total assets under management increased to $167.6 billion, reflecting momentum across wealth and retirement businesses.

AMP Bank continued focusing on capital efficiency and digital banking capabilities. The bank’s AMP Bank GO offering expanded its digital deposit base, while the Mortgage portfolio continued to be managed with focus on returns and funding efficiency.

Sector Context and Position Within the S&P/ASX 200 Financial Sector

Financial services companies operating in wealth management and retirement markets are influenced by demographic trends, investment market performance, customer savings behaviour and regulatory developments.

Australia’s retirement savings system continues to represent a significant market for wealth providers, with Demand for retirement products, investment platforms and financial advice remaining important industry themes.

Digital transformation is also reshaping financial services, with platforms increasingly focused on improving customer experiences, adviser functionality and operational efficiency.

AMP’s focus on wealth management and retirement solutions aligns with broader sector trends towards digital platforms, customer retention and scalable investment administration services.

However, financial services businesses remain exposed to investment market movements, regulatory changes and shifts in customer preferences.

Risks and Uncertainty

AMP remains exposed to changes in investment markets, as movements in asset prices can influence assets under management and related Revenue streams.

The company’s wealth businesses depend on customer flows, adviser relationships and the ongoing competitiveness of its platforms.

Regulatory changes affecting superannuation, retirement products and financial advice may also influence business operations.

AMP Bank faces risks associated with lending markets, funding conditions and Interest Rate movements. Managing capital efficiency while maintaining banking operations remains an important consideration.

The company’s transformation strategy involves continued investment in technology and business improvements, with outcomes dependent on execution and customer adoption.

Catalysts Investors Can Watch

Future developments for AMP may include continued growth across Platforms, Superannuation & Investments and retirement solutions.

Investors may monitor assets under management trends, customer cashflows, digital platform adoption and progress on capital management initiatives.

The company’s ability to maintain wealth business momentum while improving operational efficiency will remain a key area of focus.

Further updates on AMP Bank’s capital release strategy, international partnerships and Shareholder return initiatives may also provide insight into future business direction.