The group's full-year bottom-line net profit for the 2025 calendar year came in at $133 million, down 11 per cent on 2024.
The result stemmed from the settlement of legacy legal matters and business simplification.
However, underlying net profit rose almost 21 per cent to $285 million, helped by higher results in its superannuation and investments arm and the North super and pension wrap platform business, and at the top end of market consensus.
AMP Bank saw a fall in underlying profit to $55 million, down almost 10 per cent.
Chief executive Alexis George, who's stepping down in March and will be replaced by chief financial officer Blair Vernon, said there were "considerable tailwinds" in the wealth and retirement sector.
"We are well-positioned to continue to drive organic growth, while also having the capacity to participate in inorganic opportunities when they arise," she said.
"We will consider these only where there is a compelling case to build our scale or accelerate development of our capabilities."
Overall, Ms George said 2025 was an important year for AMP with the resolution of legacy issues and stabilisation of the group's portfolio.
"This enabled renewed focus on winning in the segments we play, growing the wealth businesses, and building on the vision to be the place that customers come to plan for a dignified retirement," she said.
AMP has previously been dealing with class actions in the wake of the banking royal commission, concluded in 2019, which found it had charged clients fees for no service, although some cases did not eventuate.
AMP will pay a final dividend of two cents per share, taking the full payout for the year to four cents.
Securities in AMP, which has a market capitalisation of $4.3 billion, closed on Wednesday at $1.75.
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