Last year AMP seemed such a mess that no one really wanted to talk about takeovers. Now the financial services giant’s extraordinary revival, which includes converting a $5.5 billion loss in 2003 to a $934 million profit for last year, has made the group a key takeover target for the top four banks.

It’s been a stressful time for CEO Andrew Mohl, who took the reins of the company 18 months ago. He’s keen to hang on to the company, predicting strong growth over the next three to five years. But he believes the group is likely to be a takeover target.

“There are four big players ahead of us that see us as strategically highly attractive, and that will remain the case for years,” he told the Australian Financial Review. “What we have to demonstrate to investors is why a stand-alone AMP is a valuable company that should attract a premium rating.”

Since announcing the profit Mr Mohl has also hinted at plans to give back $750 million to shareholders who stuck with the company through its crisis – as much as 40 cents per share for 962,000 shareholders.

For the moment Mr Mohl is ruling out any small acquisitions, saying the group wants to remain focused on delivering value to shareholders. He says it will also further develop its financial planning business.