-
Positive result in third
quarter
-
Client assets increase to €75.8
billion (H1 2017: €72.0 billion)
-
AuM rises to €64.1 billion (H1
2017: €60.1 billion) on the back of net inflows of
€0.9 billion among other factors
-
Private equity business opened
to clients and partly spun off
-
Common Equity Tier I
ratioi at
19.3%
's-Hertogenbosch, the Netherlands, 3 November 2017
Van Lanschot Kempen today published its trading
update for the third quarter of 2017.
Constant Korthout, Van Lanschot Kempen's
Chief Financial & Risk Officer, said: "Strategy 2020's
implementation is proceeding well and generating positive outcomes,
such as sizeably higher assets under management (AuM). Another
milestone is the proposed return of capital of €1 per share,
approved by our shareholders on 11 October. Meanwhile, we completed
the transfer of our mortgage back-office business to Stater in
September, on schedule. The positive result in the third quarter
was not affected by material one-offs.
"Today, we're also announcing that Van Lanschot
Participaties will be spun off, opening up our private equity
business to third parties, including our Private Banking clients.
Van Lanschot Kempen will continue to own the current portfolio and
will retain a minority interest as a cornerstone investor. The new
fund will include all stakes acquired since 1 January 2016, as well
as all future investments. This move is our response to an
often-heard client wish to invest in private equity, as well as
being the best possible way to position Van Lanschot Participaties
for further growth.
"Client assets grew to €75.8 billion in the third
quarter, with AuM rising to €64.1 billion on the back of net
inflows, a favourable market performance and the acquisition of
UBS's wealth management activities in the Netherlands. Total net
inflows for Private Banking, Evi and Asset Management amounted to
€0.9 billion.
"Private Banking's positive momentum continued,
despite the usual slowdown in client investment activity over the
summer, and this was reflected in net AuM inflows. The division is
currently in the process of onboarding clients from UBS's domestic
wealth management activities in the Netherlands.
"Our online investment coach Evi launched its
latest marketing campaign under the tagline 'Iedereen verdient Evi'
('Everyone deserves Evi') and we're busy improving our offering to
Evi clients in the Netherlands and Belgium.
"Asset Management's third quarter was all about
the migration of new clients, including Stichting Pensioenfonds UWV
from 1 October. The business added a new strategy to its product
offering: Kempen (Lux) Euro High Yield Fund. It has also opened a
new office in Paris to meet demand from our growing number of
institutional clients and our growth ambitions for France.
"Merchant Banking has boosted its research
department by adding a couple of experienced equity analysts
specialising in our niche markets FI & FinTech, Local Alpha and
Real Estate. Its Life Sciences team was party to capital market
transactions for various clients in the three-month period.
"Our fully loaded CET I ratio[i]
worked out at 19.3% and will remain well above our 15-17% target
even after our capital return of around €41 million."
2018 FINANCIAL
CALENDAR
22 February Publication of 2017 annual
results
25 April Annual
General Meeting of Shareholders
25 April
Publication of 2018 Q1 trading update
22 August Publication of 2018
half-year
results
Media Relations: +31 20 354 45 85;
mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90;
investorrelations@vanlanschotkempen.com
About Van Lanschot
Kempen
Van Lanschot Kempen, a wealth manager
operating under the Van Lanschot, Evi and Kempen brand names, is
active in Private Banking, Asset Management and Merchant Banking,
with the aim of preserving and creating wealth for its clients. Van
Lanschot Kempen, listed at Euronext Amsterdam, is the Netherlands'
oldest independent financial services company with a history dating
back to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on
forward-looking statements
This document may
contain forward-looking statements on future events and
developments. These forward-looking statements are based on the
current insights, information and assumptions of Van Lanschot
Kempen's management about known and unknown risks, developments and
uncertainties. Forward-looking statements do not relate strictly to
historical or current facts and are subject to such risks,
developments and uncertainties that by their very nature fall
outside the control of Van Lanschot Kempen and its management.
Actual results and circumstances may differ
considerably as a result of risks, developments and uncertainties
relating to Van Lanschot Kempen's expectations regarding, but not
limited to, estimates of income growth, costs, the macroeconomic
and business climate, political and market trends, interest rates
and currency exchange rates, behaviour of clients, competitors,
investors and counterparties, actions taken by supervisory and
regulatory authorities and private entities, and changes in law and
taxation.
Van Lanschot Kempen cautions that forward-looking
statements are only valid on the specific dates on which they are
expressed, and accepts no responsibility or obligation to revise or
update any information following new information or changes in
policy, developments, expectations or other such factors.
The financial data in this document have not been
audited. This document does not constitute an offer or solicitation
for the sale, purchase or acquisition in any other way or
subscription to any financial instrument and is not an opinion or a
recommendation to perform or refrain from performing any
action.
Parts of this document may provide insider
information about Van Lanschot Kempen N.V. and/or F. van Lanschot
Bankiers N.V. as meant in Articles 7(1) up to and including (4) of
EU Regulation 596/2014.
This document is a translation of the Dutch
original and is provided as a courtesy only. In the event of any
disparities, the Dutch version will prevail. No rights can be
derived from the translated document.
[i] Fully
loaded, excluding retained earnings in the current financial
year.
Press release Q3 trading
update
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Van Lanschot Kempen via Globenewswire
Vislink (LSE:VLK)
Historical Stock Chart
From Apr 2024 to May 2024
Vislink (LSE:VLK)
Historical Stock Chart
From May 2023 to May 2024