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Van Lanschot trading update: first quarter of 2017

  • 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 ratioi to 19.3%

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 ratioi to 19.3%. The fully loaded Common Equity Tier I ratioii rose to 19.0%, while our leverage ratioii was stable at 6.8%.”

i Phase-in, excluding retained earnings for the current financial year.
ii Fully loaded, excluding retained earnings for the current financial year.

Press release - Van Lanschot trading update: first quarter of 2017 (pdf)