Van Lanschot trading update: third quarter 2016
(Thomson Reuters ONE) -
* Result in line with first two quarters of 2016
* Client assets advance to ?67.9 billion on favourable market performance and
Asset Management's net inflows
* Solid capital base: Common Equity Tier I ratio[i] continues uptrend to 18.4%
* Strategy 2020 implementation on schedule
's-Hertogenbosch, the Netherlands, 4 November 2016
Van Lanschot today published its trading update for the third quarter of 2016.
Constant Korthout, Van Lanschot's Chief Financial & Risk Officer, said: "The
third quarter was all about the improving economy and brighter capital market
sentiment. Despite the typically lower client trading volumes over the summer,
commission income was stable compared with the first two quarters of 2016.
Merchant Banking's corporate clients took advantage of the more sanguine mood to
access the capital markets. Interest income also moved in line with the first
quarters of 2016.
"As expected, costs were down in the third quarter, as the majority of
regulatory costs are recognised in the first half of the year. Strategy 2020
aims to continue our cost control efforts, while we are paving the way for our
Private Banking omni-channel services and have started investigating the
possibility of further outsourcing payments. A further improvement in client
creditworthiness combined with the gradual wind-down of Corporate Banking's
commercial and real estate portfolio triggered a small release of provisions,
while we have seen a continued fall in the flow of client files referred to our
recovery section. All these factors have created a result that is in line with
the first quarters of the year.
"Client assets added ?1.7 billion on the end of June 2016 and reached ?67.9
billion, mainly thanks to a positive market performance. Asset Management's net
inflows from its investment strategies and fiduciary management totalled ?0.4
billion, while at Private Banking net discretionary management inflows offset
net outflows in non-discretionary investment services.
"Private Banking is currently putting everything in place to welcome
Staalbankiers' private banking clients and staff. We have now applied for a
declaration of no-objection from De Nederlandsche Bank (DNB) and expect to
complete the transaction by the end of 2016.
"Evi van Lanschot has enjoyed a positive response to its campaign targeting
tomorrow's millionaires, the next step in its marketing strategy after building
a name for itself.
"At the beginning of October, Kempen Capital Management (KCM) was appointed
independent fiduciary manager to Het nederlandse pensioenfonds, an a.s.r.
initiative; the Dutch insurance company. KCM offers advice to this new general
pension fund on a range of areas, including strategic advice, manager selection,
monitoring and integrated risk management. It's a role that fits our growth
strategy: to serve medium-sized pension funds as well as large ones in an
increasingly consolidating pensions market.
"Merchant Banking's strong presence in the European real estate market was
evident from its involvement in capital market transactions for ADO Properties
(Germany), Hamborner (Germany) and Befimmo (Belgium). Kempen is also advising
Germany's Vonovia on its proposed bid for Austria's Conwert.
"Our capital position continued to develop strongly in the quarter, with the
phase-in Common Equity Tier I ratio(i) rising further to 18.4%, well above our
target of 15-17%. The fully loaded Common Equity Tier I ratio(i) moved up to
18.0%, while our leverage ratio[ii] also recorded positive growth to 6.8%."
2017 FINANCIAL CALENDAR
9 March Publication of 2016 annual results
18 May 2017 Annual General Meeting of Shareholders
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 preserving and creating wealth for its clients. Van
Lanschot NV is listed on Euronext Amsterdam.
Disclaimer and cautionary note on forward-looking statements
This document contains forward-looking statements on future events and
developments. These forward-looking statements are based on the current
information and assumptions of Van Lanschot's management about known and unknown
risks and uncertainties. Forward-looking statements do not relate strictly to
historical or current facts and are subject to risks and uncertainties that by
their very nature fall outside the control of Van Lanschot and its management.
Actual results may differ considerably as a result of risks and uncertainties
relating to Van Lanschot's expectations regarding, but not limited to, estimates
of income growth, costs, the macroeconomic and business climate, political and
market trends, interest rates, behaviour of clients, investors and
counterparties, actions taken 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 a recommendation to perform or refrain from performing any
action.
Parts of this document contain information about Van Lanschot NV and/or F. van
Lanschot Bankiers NV 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.
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[i] Excluding retained earnings in the current financial year.
[ii] Fully loaded, excluding retained earnings in the current financial year.
Van Lanschot Press Release Trading Update Q3 2016:
http://hugin.info/133415/R/2054128/768919.pdf
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 via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.11.2016 - 07:31 Uhr
Sprache: Deutsch
News-ID 504977
Anzahl Zeichen: 7697
contact information:
Town:
's-Hertogenbosch
Kategorie:
Business News
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