0112 GMT - Australian wealth manager AMP's banking business should surprise positively in 2025, contends Morgan Stanley. AMP's banking business stabilized during 2024, with earnings rising to A$37 million in 2H, from A$35 million six months before. Analyst Andrei Stadnik says AMP's launch of a small business and consumer digital bank in February "should improve the deposit mix via lower cost transaction accounts." Combined with easing competition for deposits among Australian lenders, this could help AMP's bank earnings to beat expectations as FY 2025 evolves, Morgan Stanley says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 16, 2025 20:12 ET (01:12 GMT)
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