Van Lanschot trading update: first quarter of 2017
(Thomson Reuters ONE) -
* Positive results continue
* Client assets rise to ?70.8 billion
* Private Banking, Evi and Asset Management grow on net AuM inflows
* Solid capital base underlined by increase in Common Equity Tier I ratio(i)
to 19.3%
's-Hertogenbosch, the Netherlands, 18 May 2017
Van Lanschot today publishes its trading update for the first quarter of 2017.
Constant Korthout, Chief Financial & Risk Officer at Van Lanschot, comments: "We
are pleased with our first-quarter performance. Our results are up and our
income is showing a positive development. Markets were less volatile in the
first quarter than they had been in the first three months of 2016, as reflected
by higher commission income and client assets adding ?1.4 billion to ?70.8
billion. Our results also include a book profit on the successful sale of Van
Lanschot Participaties' minority stake in TechAccess.
"Operational expenses as well as the addition to loan loss provisions were at
similar levels to last year. The implementation of Strategy 2020 is on track, as
demonstrated by the further run-off of Corporate Bank's loan portfolio and
outsourcing of mortgage administration and payments services.
"First-quarter assets under management (AuM) were up on the back of ?0.4 billion
net inflows generated by Private Banking, Evi and Asset Management, among other
factors.
"Private Banking is reporting positive momentum, with clients welcoming our
investment advice app launched at the beginning of March. Also, we have fully
and successfully integrated Staalbankiers' private banking activities. The
quarter's upbeat sentiment and price trends caused an uptick in both net inflows
and AuM.
"After building brand awareness, Evi van Lanschot is now focusing on the next
step in its marketing strategy and enhancing growth. We're investing in
improving our data analyses and online convenience to create an even better fit
between what our Evi clients want and the service we provide.
"Asset Management got off to a flying start, with AuM up in both fiduciary
management and investment strategies managed by Asset Management. In the three
years since their inception in 2014, Kempen Global Small Cap Fund and Kempen
Global Property Fund have established robust track records and created a solid
foundation for further growth. In April we signed a draft agreement with
Stichting Pensioenfonds UWV on the appointment of Kempen Capital Management
(KCM) as the latter's fiduciary manager from 1 October 2017. With invested
capital of around ?7.3 billion, the pension fund will be KCM's third fiduciary
client with assets exceeding ?5 billion.
"As is often the case in the first quarter, Merchant Banking had a fairly slow
start to the year. In 2016, it gained momentum after the summer and this year
also promises a solid pipeline for the quarters ahead.
"Our strong capital position is underlined by an increase in our phase-in Common
Equity Tier I ratio(i) to 19.3%. The fully loaded Common Equity Tier I ratio(ii)
rose to 19.0%, while our leverage ratio(ii) was stable at 6.8%."
2017 FINANCIAL CALENDAR
18 May 2017 Annual General Meeting of Shareholders
29 August Publication of 2017 half-year results
3 November Publication of 2017 Q3 trading update
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, Kempen and Evi
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 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'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 that by their very nature fall outside the
control of Van Lanschot and its management.
Actual results and circumstances 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 and business climate; political and market trends; interest rates;
behaviour of clients, investors and/or counterparties; actions by supervisory
and regulatory authorities and private entities; and changes in law and
taxation.
Van Lanschot 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 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 of 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 N.V. and/or F. van
Lanschot Bankiers N.V. within the meaning of Article 7(1) up to (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.
--------------------------------------------------------------------------------
(i) Phase-in, excluding retained earnings for the current financial year.
(ii) Fully loaded, excluding retained earnings for the current financial year.
Press release Q1 2017 trading update:
http://hugin.info/133415/R/2105747/799275.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: 18.05.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 543012
Anzahl Zeichen: 7347
contact information:
Town:
's-Hertogenbosch
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 156 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Van Lanschot trading update: first quarter of 2017"
steht unter der journalistisch-redaktionellen Verantwortung von
Van Lanschot (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
