AMP announced its Q1 2022 AUM and cash flows update

AMP Limited (ASX: AMP) has released its quarterly AUM and cash flows update

• AMP Bank’s loan book grew at 2x system growth in a highly competitive market and grew by AU$0.5 billion to AU$22.6 billion in Q1 2022.
• The total deposits improved by AU$1.7 billion to AU$19.5 billion during Q1 2022, reflecting a deposit to loan ratio of 86%.
• Australian Wealth Management AUM reduced AU$5.8 billion to AU$136.5 billion during Q1 2022 (Q4 21: AU$142.3 billion), signifying lower investment markets plus net cash outflows.
• AMP Capital AUM on a normalized basis declined 0.6% to AU$52.5 billion from AU$52.8 billion in Q4 21, mainly reflecting client redemptions from China Life AMP Asset Management money market funds.

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