Van Lanschot agrees new pension scheme
(Thomson Reuters ONE) -
's-Hertogenbosch, the Netherlands, 5 January 2015
Van Lanschot and its Works Council have reached agreement on a new pension
scheme, which will be a mix of collective and individual defined contributions
from 1 January 2015. Van Lanschot will be under no obligation to make any extra
payments, nor will it be entitled to any pension fund surpluses.
The change will help Van Lanschot limit the risks and volatility of its pensions
bill, and it has made a one-off payment of ? 50 million into the Van Lanschot
pension fund to make up for the risks so transferred.
In 2014, the pension scheme adjustment should have a net positive effect of over
? 50 million on Van Lanschot's net profits, due to the release of the net
pension liability and the recognition of the one-off payment.
The effects of the new scheme on the phase-in Common Equity Tier I ratio will be
negative.
On 30 September 2014, this ratio (not including retained earnings in the current
financial year) stood at 14.1%. The phase-in Common Equity Tier I ratio is
expected to fall by around 1 percentage point to reflect the change in the
pension scheme, or around 0.4 percentage points including retained earnings. The
new arrangements will have only a limited effect on the fully loaded Common
Equity Tier I ratio.
Van Lanschot's annual results for 2014, which are scheduled for release on 10
March 2015, will incorporate the effect of the change to the pension scheme.
Media Relations: +31 20 354 45 85; mediarelations(at)vanlanschot.com
Investor Relations: +31 20 354 45 90; investorrelations(at)vanlanschot.com
Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the
oldest independent
bank in the Netherlands with a history dating back to 1737. Van Lanschot, a
wealth manager
operating under the Van Lanschot and Kempen & Co brand names, is active in
Private Banking,
Asset Management and Merchant Banking, with the aim of creating and preserving
wealth for its
clients. Van Lanschot NV is listed on Euronext Amsterdam.
For more information, go to https://corporate.vanlanschot.nl/en
Disclaimer and cautionary note
This document contains forward-looking statements on future events. These
forward-looking statements are based on the current information and assumptions
of Van Lanschot'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 risks, developments and uncertainties. The
actual results may differ considerably as a result of risks, developments and
uncertainties relating to Van Lanschot's expectations regarding, but not limited
to, estimates of income growth, costs, the macroeconomic climate, political and
market trends, actions by supervisory and regulatory authorities and private
entities, and changes in the law and taxation. Van Lanschot cautions that
expectations 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 included 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 recommendation to perform any action or
refrain from performing any action.
20150105 Van Lanschot press release:
http://hugin.info/133415/R/1884086/665661.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Van Lanschot via GlobeNewswire
[HUG#1884086]
Unternehmensinformation / Kurzprofil:
Datum: 05.01.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 362260
Anzahl Zeichen: 4520
contact information:
Town:
's-Hertogenbosch
Kategorie:
Business News
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