Van Lanschot and Bank Nederlandse Gemeenten (BNG) have reached an agreement on the sale of CenE Bankiers institutional healthcare portfolio to BNG. This sale reinforces Van Lanschots private banking strategy, under which the bank increasingly targets high net-worth individuals, entrepreneurs and their businesses.
CenE Bankiers, part of the Van Lanschot group, is a specialised bank for the medical sector. In line with Van Lanschots private banking strategy, CenE Bankiers will continue to focus its services on entrepreneurs in the healthcare sector and medical specialists.
The institutional healthcare portfolio to be transferred to BNG comprises loans to Dutch healthcare institutions such as hospitals, residential care homes, nursing homes and mental and physical disability care institutions. The portfolio consists of long and short-term loans, current account facilities and funds transfer services. The value of the portfolio amounts to some 550 million. As a result of the sale, Van Lanschots capital ratios will improve (the BIS total capital ratio, Tier I ratio and Core Tier I ratio will increase by approximately 40, 35 and 25 basis points respectively), half of the increase being realised this year and half in 2010.
BNG is the bank of and for governmental bodies and public institutions. BNGs clients are public authorities, social housing associations, healthcare and educational institutions and utilities.
The transfer of the institutional healthcare portfolio will be completed in the first half of 2010. Van Lanschot was advised in this transaction by Kempen & Co and Allen & Overy.
s-Hertogenbosch, 21 December 2009
Van Lanschot Media Relations: Etienne te Brake, Corporate Communication spokesperson
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Van Lanschot Investor Relations: Geraldine Bakker-Grier, Investor Relations Manager
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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. The bank focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.
The press release can be downloaded from the following link: