First Impressions on AMP - A tidy and solid 1H15 result

AMP had ROE up 1% to 13.5% (vs our 13.7% estimate). Their life company recovery was on track, however slightly below our estimate. AMP Bank continues to grow strong with their cost efficiency program on track. They had an increase in regulatory capital above MRR moving to $2.3 billion, vs 2.0 billion at FY14. Read the full summary here: (VIEW LINK)