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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.