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Van Lanschot trading update: first quarter of 2015

  • Healthy quarterly results match first-quarter 2014 levels
  • Client assets grow to €61.7 billion
  • Solid capital base: Common Equity Tier I ratio [1] amounts to 14.2%
  • Private Banking launches campaign for entrepreneurs

Van Lanschot today published its trading update for the first quarter of 2015. Constant Korthout,
Van Lanschot’s Chief Financial & Risk Officer, said: “We are pleased with our results for the first quarter of 2015. Our net profits are in keeping with the same reporting period last year, and our transformation into a specialist wealth manager has significantly boosted our securities and other commissions. Low interest rates have pushed down interest income, costs are comparable to last year’s and the addition to the loan loss provision was down slightly. Thanks to a favourable stock market climate client assets totalled €61.7 billion at 31 March, up by €4.3 billion on year-end 2014.

“We are taking our wealth management strategy further, focusing on bolstering the positions of our core activities Private Banking, Asset Management and Merchant Banking. Private Banking has just launched its proposition for entrepreneurs in a new campaign. Van Lanschot and
Kempen Capital Management together launched Evi Pensioen (‘Evi for your pension’) to help employees, the self-employed and other entrepreneurs engage in tax-efficient wealth creation towards their pension, benefiting from our wealth of investment expertise. At Merchant Banking, Kempen Corporate Finance and Kempen Securities were involved in a range of deals, including the IPOs of Dutch companies Lucas Bols and GrandVision. Corporate Banking is moving ahead with the steady wind-down of our corporate and property loan portfolios as planned.

Our capital and liquidity ratios are solid and progressing satisfactorily. The phase-in Common Equity Tier I ratio [1] inched down to 14.2%, in line with our forecasts that it would match the 2014 end-of-year level by the end of 2015. Fully loaded Common Equity Tier I ratio [1] worked out at 13.3%, while the leverage ratio [2] stood at 5.7%.”

2015 FINANCIAL CALENDAR

13 May           Annual General Meeting of Shareholders (’s-Hertogenbosch, the Netherlands, 2.00 pm CET)
25 August       Publication of 2015 half-year results
6 November    Publication of 2015 Q3 trading update

[1] Excluding retained earnings in the current financial year
[2] Fully loaded, excluding retained earnings in the current financial year