Van Lanschot: strong profit increase and higher dividend
(Thomson Reuters ONE) -
* Net profit increases to ?69.8 million (2015: ?42.8 million)
* Underlying net result(i) adds 35% to ?81.3 million (2015: ?60.1 million)
* Client assets grow by 10% to ?69.4 billion (year-end 2015: ?63.0 billion)
* Capital base sharply up: CET I ratio(ii) comes in at 19.0% (year-end
2015: 16.3%)
* Significantly higher dividend proposed: ?1.20 per share (2015: ?0.45 per
share)
's-Hertogenbosch, the Netherlands, 9 March 2017
Van Lanschot today released its 2016 annual figures. Karl Guha, Chairman, said:
"We are grateful for the loyalty, trust and confidence that our clients place in
us. 2016 was a good year for Van Lanschot despite low interest rates, major
volatility and global political and social uncertainty. Bolstered by improving
economic conditions, the quality of our loan portfolio was up, sparking a
significant release from loan loss provisions. This, combined with our solid
operational result, boosted our underlying net result to ?81.3 million, enabling
us to propose a significantly higher dividend of ?1.20 per share. What is more,
our financial foundations are rock-solid. We therefore reiterate our commitment
to return at least ?250 million to our shareholders by 2020, based on our
current plans and currently known laws and regulations.
"We are well on track in implementing Strategy 2020 as presented in April 2016.
The acquisition of Staalbankiers' private banking activities bolsters our market
position in the Netherlands by adding a large group of new clients and
commercial talent - a fine example of a bolt-on acquisition as part of our
growth-driven strategy. Evi van Lanschot has grown into an independent activity
that is free to grow in its own way, and by the end of the year it had bagged
the Gold Bull (Gouden Stier) for best online asset manager. Kempen Capital
Management landed several high-profile mandates and made progress in expanding
its market reach in fiduciary and institutional asset management. Merchant
Banking was particularly successful in the second half in its capacity as
adviser to a number of major European transactions in its own niche markets. Key
developments for the company as a whole were our strategic update, the secondary
market offering of the Delta Lloyd stake and the integration of Van Lanschot and
Kempen staff functions.
"When releasing our strategic update we announced our aim to invest in
developing our omnichannel private banking model. Today, we are delighted to
launch an innovative investment advice app, which will give our clients easy
access to their own portfolios and their dedicated investment adviser. And
today, we are announcing another key step by teaming up with Fidor, an
innovative German fintech player, to outsource our payments activities - which
we expect to result in state-of-the-art online and mobile payments for our
clients next year.
"Our solid strategic progress also sees us well on course to achieving our 2020
financial targets. We have realised a full-2016 return on equity(iii) of 7.3%, a
clear continuation of our upward trend. We are closely watching the development
of our efficiency ratio, which came in at 80.3%. Our CET I ratio, finally, is
comfortably ahead of our target range of 15-17%, at 19.0%."
FINANCIAL REPORT/ PRESENTATION/ WEBCAST
For a detailed discussion of Van Lanschot's results and balance sheet, please
refer to our 2016 financial report and presentation of our 2016 annual results
at https://corporate.vanlanschot.nl/results.
In a conference call for analysts on 9 March at 9.00 am CET, we will discuss our
2016 figures in greater detail. This may be viewed live at
https://corporate.vanlanschot.nl/results and played back at any later date.
Media Relations: +31 20 354 45 85; mediarelations(at)vanlanschot.com
Investor Relations: +31 20 354 45 90; investorrelations(at)vanlanschot.com
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 such 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 and exchange rates and behaviour of clients,
competitors, 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 in forward looking statements about future events 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 may provide information about Van Lanschot 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.
Van Lanschot - Press release 2016 annual results:
http://hugin.info/133415/R/2086397/787219.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: 09.03.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 529133
Anzahl Zeichen: 7072
contact information:
Town:
's-Hertogenbosch
Kategorie:
Business News
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