AMP Limited reported a 20.8% rise in underlying net profit after tax for 2025, driven by growth in wealth platforms and investments, alongside a planned CEO transition and pending class action settlements.
- Underlying NPAT increased 20.8% to $285 million
- Final dividend declared at 2.0 cents per share, 20% franked
- CEO Alexis George to retire March 2026; CFO Blair Vernon appointed incoming CEO
- Two class action settlements totaling $149 million pending Federal Court approval
- Strong focus on retirement solutions, digital banking growth, AI integration, and sustainability
Financial Performance Highlights
AMP Limited has delivered a robust financial performance for the full year ended 31 December 2025, with underlying net profit after tax (NPAT) rising 20.8% to $285 million. This growth was underpinned by strong momentum across its Platforms, Superannuation & Investments, and New Zealand Wealth Management divisions, despite a 9.8% decline in AMP Bank earnings largely attributable to the costs associated with scaling its new digital bank, AMP Bank GO.
The company declared a final dividend of 2.0 cents per share, franked at 20%, maintaining its dividend payout guidance and reflecting confidence in its capital position. AMP’s Common Equity Tier 1 (CET1) capital surplus strengthened to $287 million, supporting a solid balance sheet as the company navigates a competitive and evolving financial services landscape.
Strategic Initiatives and Market Positioning
AMP continues to position itself as a preeminent retirement specialist, focusing on delivering innovative retirement income solutions and digital advice tools. The North platform, AMP’s flagship wealth management solution, saw significant growth with net cash inflows surging to $5.1 billion, driven by new adviser activations and increased managed portfolio assets now totaling $25.2 billion.
In parallel, AMP Bank GO, launched in February 2025, is scaling its digital banking services targeting mini businesses and personal customers. While still in its growth phase, AMP Bank GO has amassed $310 million in deposits and maintains a customer satisfaction score exceeding eight out of ten.
AMP is also advancing its integration of artificial intelligence to enhance customer experience and operational efficiency, alongside a strong commitment to sustainability and climate-related risk management. The company’s 2025 Sustainability Report highlights ongoing efforts to embed ESG principles and climate resilience into its business model.
Leadership Transition and Governance
In a significant leadership development, CEO Alexis George announced her retirement effective 30 March 2026 after nearly five years at the helm. Blair Vernon, the current Chief Financial Officer, has been appointed as the incoming CEO. Vernon’s deep familiarity with AMP’s operations and strategic priorities positions him to lead the company’s next growth phase.
The board also welcomed Linda Elkins as a new non-executive director, bringing extensive expertise in wealth platforms and superannuation, while Andrea Slattery retired after six years of service. These changes reflect AMP’s ongoing commitment to strong governance and board renewal.
Legal Settlements and Risk Management
AMP reached in-principle agreements to settle two class actions related to superannuation fees and commissions for advice and insurance advice, with a combined settlement amount of $149 million. These settlements are subject to finalisation and Federal Court approval expected in the first half of 2026. The company continues to manage legacy legal matters prudently, alongside a comprehensive enterprise risk management framework that includes climate-related risks and operational resilience.
AMP’s remuneration report reveals a revised executive incentive framework emphasizing long-term shareholder value, risk management, and alignment with AMP’s strategic objectives. The board exercised discretion in STI funding to balance rewarding performance with shareholder experience amid an uncertain economic environment.
Bottom Line?
AMP’s strong 2025 results and strategic initiatives set the stage for growth, but investors will watch closely as leadership changes and legal settlements unfold.
Questions in the middle?
- How will Blair Vernon’s leadership influence AMP’s strategic execution and growth trajectory?
- What impact will the pending class action settlements have on AMP’s financials and reputation once approved?
- How effectively can AMP Bank GO scale to profitability amid competitive digital banking pressures?