Van Lanschot Kempen trading update: third quarter 2017
(Thomson Reuters ONE) -
* 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 ratio(i) 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(at)vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations(at)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.
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[i] Fully loaded, excluding retained earnings in the current financial year.
Press release Q3 trading update:
http://hugin.info/133415/R/2146929/823295.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 Kempen via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 566523
Anzahl Zeichen: 7629
contact information:
Town:
's-Hertogenbosch
Kategorie:
Business News
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