The Australian Mutual Provident Society was founded in 1849 as a life insurer. Over the intervening 175 years, it has evolved into AMP Limited, which was demutualised and listed on the ASX in 1998.
The Quay Quarter Tower in Sydney, one of the biggest skyscrapers in the city, was initially built as the AMP centre in 1976. However, AMP headquarters moved in 2018 to the AMP Building on Alfred Street, although the Tower is still owned by AMP Capital.
The year 1998 also saw AMP Bank open for business, broadening the brand’s horizons beyond insurances and wealth. Today, AMP Bank offers home loans, term deposits and savings accounts to Australian customers.
As of March 2024, it has a market cap over $3 billion, with operations in banking, insurance, superannuation and wealth management in Australia and New Zealand. In terms of residents' assets, it is 12th-largest with nearly $34 billion on its books. It has similar standings when ranking home loan and deposit portfolios.
As of 2022, there were 185,000 AMP customers.
